Grundfos Pumps Korea will be headed by Hyun Wook Shin and will have a sales office in Seoul, a service and distribution centre in Eumsung and an operations centre in Gwangjoo.
The move is designed to give Grundfos better market coverage, higher brand awareness and greater flexibility towards customers.
“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,” said Hyun Wook Shin.
The new structure is expected to be finalized during the second quarter of 2017.
Grundfos has been present in South Korea since 1990, when it opened a sales subsidiary in Seoul.