Ube looks to increase sales in South Korea

TOKYO, JAPAN: Ube Industries Ltd recently said that it has decided to establish a local subsidiary in South Korea, which will serve as a launch pad for developing the market for Ube Group products and pursuing sales in South Korea.

The new subsidiary, Ube Korea Co Ltd, will begin operations in April 2011. South Korea is home to a number of leading semiconductor companies and electrical and electronic manufacturers, and offers great potential as a market, particularly for products handled by the Specialty Chemicals & Products Company of the Ube Group. The South Korean market is also home to many leading manufacturers in the automotive and shipbuilding sectors.

The Ube Group decided to establish a local subsidiary as the South Korean market is expected to grow in importance to the future business development plans of the Ube Group, informed the company.

(C) WOC News