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NEC establishes Korea subsidiary

Posted: 06 Sep 2006 ?? ?Print Version ?Bookmark and Share

Keywords:NEC Electronics? NEC Electronics Korea? subsidiary?

NEC Electronics Corp. announced the establishment of a new wholly-owned subsidiary in Korea, which will provide enhanced sales and technical support to local customers. To commence operations on Nov. 1, NEC Electronics Korea Ltd will be headquartered in Seoul, and will be staffed with approximately 40 employees.

NEC expects the number of employees at NEC Electronics Korea to double in approximately two years, and aims to expand semiconductor sales to customers in the region from approximately $388 million (for the fiscal year ended March 31, 2006) to approximately $690 million by 2008.

According to the press release from NEC, the demand for semiconductor sales and support in Korea has been spurred by the rapid growth of flat-panel TVs and digital AV applications. There has also been a considerable rise in demand for microcontrollers, power management devices and compound semiconductor devices.

NEC has maintained a presence in Korea since 1989, serving customers through its sales network, as well as branch offices of NEC Electronics Hong Kong and NEC Compound Semiconductor Devices Hong Kong. With the new subsidiary in Korea, NEC will be enable to provide more robust services to local clients. The company added that with the establishment of the new subsidiary and NEC's decision to integrate its compound semiconductor devices businesses, NEC Compound Semiconductor Devices Hong Kong will be merged with NEC Electronics Hong Kong on Nov. 1.

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