August 11, 2016
Our three South Korean companies merges in to one. Better market coverage, higher brand awareness and greater flexibility towards customers are among the benefits coming from this move.
One, greater Grundfos. That will be the result of a decision to merge our Korean sales and production subsidiaries, Grundfos Pumps Korea, ChungSuk and Keum Jung Industrial. This move is made in order to optimise and utilise our combined resources and competences in the country.
“One Grundfos organization in Korea will create strategic synergies for market leadership and enhance competitive edges. We also expect that this strategic change will strengthen customer centricity based on a consolidated organization in terms of sales and service initiatives. Moreover, a simplified structure will enhance our united team’s ability to strengthen our internal and external collaboration and optimise our cost base, thus providing a strong foundation for our sustainable growth in South Korea as well as supporting Group Strategy 2020,” says Hyun Wook Shin, General Manager of Grundfos Pumps Korea.
The new, united Grundfos in South Korea will be known as Grundfos Pumps Korea, and will be headed by Hyun Wook Shin. The company’s activities in South Korea will be organised with a sales office in Seoul, service and distribution centre in Eumsung, and an operations centre in Gwangjoo.
The consolidation phase is already initiated and the final implementation of the new structure is expected to be settled during the second quarter of 2017.
Grundfos has been present in South Korea since 1990, where our Seoul based sales subsidiary opened its doors. Since then we have strengthened our position as a premium supplier of circulator and booster-solutions for the South Korean construction market, while we have also added to our skillset in producing large, made to order solutions for flood control.