NEC Electronics Corp. has announced the establishment of a new wholly-owned subsidiary, NEC Electronics Korea Ltd, to provide enhanced sales and technical support to customers in Korea. The new company, headquartered in Seoul, will commence operations on November 1, 2006 with approximately 40 employees.
In recent years, the demand for semiconductor sales and support in Korea has been spurred by the rapid growth due to the popularity of flat-panel televisions and digital AV applications. There has also been a considerable rise in demand for microcontrollers, power management devices, and compound semiconductor devices. NEC Electronics Korea was established to respond to these growing needs.
Since 1989, NEC Electronics has maintained a presence in Korea, serving customers through its sales network, as well as branch offices of NEC Electronics Hong Kong and NEC Compound Semiconductor Devices Hong Kong. However, the new subsidiary will enable the company to provide more robust services. As a result of the establishment of NEC Electronics Korea, and NEC Electronics' decision to integrate its compound semiconductor devices businesses (announced on April 1, 2006), NEC Compound Semiconductor Devices Hong Kong will be merged with NEC Electronics Hong Kong on November 1, 2006.
In coming years, NEC Electronics will continue to aggressively target Asian markets by improving is sales and support. The company 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 45 billion yen (for the fiscal year ended March 31, 2006) to approximately 80 billion yen by 2008.
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