ThyssenKrupp to invest $500 mio in Korea

ThyssenKrupp to invest $500 mio in Korea

German based steel producer ThyssenKrupp reportedly plans to invest $500 million in Korea, including establishment of North Asian research and development center, as a part of its expansion plan in Asia. In line with the plan, 20 ThyssenKrupp executives will visit Seoul, to find local partners for investment. With the projects to be materialized in Asia, ThyssenKrupp's sales share in the region will increase from the current 5% to 15% in the next five years. As previously reported by SteelOrbis, ThyssenKrupp had made investments in China as a part of its expansion plan in Asia.