Annual press conference 2017 in Seoul: Bosch posts stable performance in Korea: Shaping transformation in mobility and connectivity


2017-06-27 | Corporate News

  • 2.3 trillion KRW in sales in 2016
  • Expanding activities to offer driver assistance systems and to bring automated driving to Korea
  • Shaping the transformation of the powertrain
  • Offering connected solutions across various domains in Korea

Yongin/Seoul – Bosch, a leading global supplier of technology and services, ended its 2016 fiscal year with 2.3 trillion KRW in consolidated sales in Korea, thus remaining at a level similar to the previous year with a slight increase. “Korea continues to be an important market for Bosch and we saw a stable development also in the first quarter of 2017,” said Dr. Frank Schaefers, president of Robert Bosch Korea Limited Company during its annual press conference. “We are stepping ahead to shape the transformation in future mobility in Korea by strengthening our product portfolio in the domestic market. In addition, we are seizing new opportunities with the increasing demand for connectivity solutions also in Korea,” Schaefers said.

Development of Bosch business in Korea

Bosch’s Mobility Solutions business sector registered moderate growth in Korea in 2016, based on sales of driver assistance systems, car multimedia, and automotive electronics. Bosch Rexroth Korea, the Drive and Control Company, which is part of the Industrial Technology business sector showed growth in the Mobile Application business. While the Energy and Building Technology business sector remaining stable in 2016, the Consumer Goods business sector performed better again compared to the previous year as the Power Tools division showed a 12th year of consecutive growth in sales. The number of associates employed at Bosch in Korea in 2016 stood at more than 1,900. This number is expected to remain at a similar level in 2017.

Bosch to bring automated driving to Korea

As a part of Bosch’s expanded business activities, the company will offer more diverse driver assistance systems and to bring automated driving to the market in Korea. “We see substantially greater demand in the market for driver assistance systems worldwide including Korea. Bosch is taking the path to automated driving step by step. At each of those steps, we offer attractive products and functions which make driving significantly safer and more relaxed,” said Mr. Enrico Rath, who was appointed regional president of the Bosch Chassis Systems Control division in Korea in January 2017. From braking and steering to acceleration, driver assistance systems support drivers in confusing or critical traffic situations and intervene in a targeted manner if necessary. In doing so, they make road traffic safer and help drivers reach their destination with less stress and hassle. The electronic assistants are based on sensors featuring radar, video, and ultrasonic technology that capture the vehicle’s surroundings. Driver assistance systems are also the preliminary stage of automated driving, which will allow cars to take over complete control on their journey from point A to point B in the future. At Bosch Group, some 3,000 developers worldwide are already working on new driver assistance systems – and therefore also on automated parking and driving.

The electrification of mobility: a combination of electricity and fuel

Bosch is investing a lot of effort in taking electric driving forward. A new operating unit for electromobility will bring together all the company’s activities in this area. In addition to strong investments in further improving internal-combustion engines, the company is investing some 400 million euros each year in electromobility and especially in battery research and development. Bosch is researching both current and future battery-cell technologies. The company has already won more than 30 electromobility-related orders. From the start of 2018, the newly formed Bosch Powertrain Solutions division and its 88,000 associates worldwide will offer all powertrain technologies from a single source.

Bosch offers connected solutions across domains in Korea

The Bosch Group also sees great potential in Korea for its business in IoT connectivity across various industrial domains:

  • • In terms of connected manufacturing, for example, Bosch is a leading provider and leading user. The company is working to transform its Daejeon plant to a smart manufacturing plant with Industry 4.0 solutions. For instance, ‘Active Cockpit solution’ which gets all the real-time data through a digitalized production dashboard is already applied on its manufacturing lines. A pilot project has been completed for ‘iStation’ which provides digitalized work instructions and machine check sheets through smart devices. Also, ‘APAS’ which is an intelligent robot system for the direct, safe and contact-free collaboration of human and machine is planned to be applied in some of the manufacturing lines in the near future. The Bosch Group has been working with Industry 4.0 solutions for several years now. With more than 250 manufacturing locations around the world, the company has extensive experience in industrial technology and in the use of sensors, software, and cloud based service solutions. Bosch offers a broad range of solutions for production and the entire supply chain from a single source to its customers in Korea and around the world.
  • • Bosch is consistently expanding its expertise in connected measuring and power tools for professionals. From laser measures with integrated Bluetooth modules to angle grinders, users of connected power tools from Bosch can personalize their tools via an app, set up a custom configuration, and save these settings for future work. Users also receive information regarding the status of their tools as well as tips for troubleshooting. In some cases, the app also functions as a remote control. The Professional 18V cordless angle grinder (GWS 18V-100 C/SC & -125 SC) which is the world’s first connected angle grinder from Bosch and Professional measuring tool Green line laser level (GCL 2-50 CG) which enables users to control the measuring tool via a smartphone are some examples of innovative products to be launched in the Korean market within this year.
  • • When it comes to smart building technology, Bosch Security Systems offers network cameras from the IP 4000 series with built-in video analytics as a standard which are designed to take data usage to a whole new level. Video security cameras and more specifically the data they are collecting play an important role in the further development of the internet of things. For example, small and medium businesses, large retail stores, commercial buildings and warehouses will benefit from Essential Video Analytics. This suite of video analytics delivers 15 different video analytics algorithms that can be used for smart movement detection such as intelligent intrusion and idle-object detection as well as business analytics such as crowd density assessment.

Bosch Group: Strategy and business outlook for 2017

For 2017, in light of a subdued economic outlook and geopolitical uncertainty, Bosch aims to achieve sales growth of between three and five percent. And despite still heavy upfront investments in safeguarding the company’s future, result is set to rise. “Business success today gives us the leeway to shape tomorrow’s world,” said Dr. Volkmar Denner, the chairman of the Bosch board of management. By 2020, all Bosch’s new electronic products will feature connectivity. The key to this is artificial intelligence (AI). Over the next five years, Bosch will be investing 300 million euros in its own center for artificial intelligence.

About Bosch in Korea

Bosch in Korea manufactures and markets automotive original equipment and aftermarket products, industrial automation and mobile machinery products, power tools and accessories, and security systems. The company opened an office in Seoul in 1985. Bosch operates five companies in Korea: Robert Bosch Korea Limited Company, Bosch Electrical Drives Co., Ltd., Bosch Rexroth Korea Ltd., ETAS Korea Co., Ltd., and KB Wiper Systems Co., Ltd. (KCW 50%). Total employment amounts to around 1,900 associates as of December 31, 2016. Bosch has a strong R&D presence in Korea with more than 250 engineers in research and development and a technical center with state of-the art testing and application facilities. In fiscal 2016, Bosch generated sales of 2.3 trillion KRW in Korea.

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Bosch Group

The Bosch Group is a leading global supplier of technology and services. It employs roughly 400,500 associates worldwide (as of December 31, 2017). According to preliminary figures, the company generated sales of 78 billion euros in 2017. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT company, Bosch offers innovative solutions for smart homes, smart cities, connected mobility, and connected manufacturing. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group’s strategic objective is to deliver innovations for a connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.” The Bosch Group comprises Robert Bosch GmbH and its roughly 450 subsidiaries and regional companies in some 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. The basis for the company’s future growth is its innovative strength. At 125 locations across the globe, Bosch employs 62,500 associates in research and development.

The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as “Workshop for Precision Mechanics and Electrical Engineering.” The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant upfront investments in the safeguarding of its future. Ninety-two percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust. The remaining shares are held by the Bosch family and by Robert Bosch GmbH.

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