News on Major Investments in IFEZ
Swiss ‘Bystronic’ Signs Investment Company Introduction
Contract for the Establishment of an Exhibition and Training Center
Commissioner Jin-yong Kim of IFEZ signed an investment contract with CEO Ik-sun Park of
Bystronic Korea at the G Tower on December 19 last year in the presence of related officials. The contract is mainly about Bystronic’s construction of the largest
exhibition and training center in the Asia-Pacific region in Songdo.
Bystronic explained that they decided to invest in IFEZ as it is the best site to establish an important local center of the global company due to its global logistics system and the foreigner friendly settlement conditions of the area.
The exhibition and training center of Bystronic Korea, which is entirely owned by Swiss Bystronic, will be established inside the Knowledge Information Industrial Complex of Songdo District and the area of the site is 3,360㎡. It will include the main office of
Bystronic Korea as well as an exhibition hall, training center, and parts room. Construction will begin in the middle of next year with the goal to open in 2020.
The exhibition and training center to be constructed by Bystronic will be the largest of the Bystronic Centers in the Asia-Pacific region. Bystronic Korea accounts for nearly 50% of the sales in the entire Asia-Pacific market and has shown the second largest levels in sales, service, and logistical capacity next to the USA when comparing individual nations.
Accordingly, the exhibition and training center to be established in IFEZ will become the key local center in the Asia-Pacific region.
Bystronic Korea boasts of the top market share in Korea for advanced fiber laser cutter, and it is planning to concentrate its R&D capabilities on the development of a smart factory and unmanned advanced equipment, key areas of the Fourth Industrial Revolution, and the development of related solutions. It is expected to make an enormous contribution to the sophistication of the industrial structure of Incheon. As 55% of Bystronic Korea’s
products are installed in the Seoul-Incheon area, more intense cooperation and technological transfer with small and medium-sized companies in Incheon is also expected.
Commissioner Jin-yong Kim of IFEZ said, “Not only Swiss Bystronic but also other global machine tool makers such as Amada and Okuma have chosen IFEZ as the place to operate their headquarters, which proves once again the excellent location of IFEZ as a global hub,” and added, “We will do our utmost to induce local headquarters of global advanced companies which integrate smart factory and AI in response to the Fourth Industrial Revolution.”
- • The top market share in Korea for advanced fiber laser cutter
- • The development of a smart factory and unmanned advanced equipment
[Investment Contract Overview]
Contents of a contract
- Construction of the Largest Exhibition and Training Center
in the Asia-Pacific Region
The area of the site
- the goal to open in 202 3,360㎡