BMW’s Korean expansion driven by local sourcing, innovation
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BMW Group emphasized Tuesday it has been actively involved in South Korea for the past three decades, focusing on sourcing parts from local companies, investing in infrastructure and contributing to corporate social responsibility initiatives. The company’s activities in the region reflect its commitment to maintaining and expanding its presence in the Korean market, the group said.
In 2023, BMW Group purchased parts worth 6.53 trillion won ($4.86 billion) from Korean companies. This figure surpasses BMW Group Korea’s revenue for the same year, which totaled 6.11 trillion won. From 2010 to 2023, the company’s cumulative procurement from Korean suppliers reached 30.78 trillion won. BMW sources a range of components, including electric vehicle batteries and displays, from over 30 Korean companies, such as Samsung SDI, Samsung Display, LG Group, Hankook Tire and Sebang Global Battery.
In 2022, Samsung Group received 10 BMW The New i7 units for business use, including the first delivered in Korea. Samsung SDI supplies high-voltage batteries for nine of the 11 BMW electric vehicles currently available in Korea, including the New i7.
The new Mini Countryman, launched in June last year, features a circular OLED display developed in collaboration with Samsung Display. This display has been noted for its image quality, touch sensitivity, and design. Samsung Display received five units of the new Mini Countryman as part of the launch activities.
BMW Group has made several significant infrastructure investments in Korea. In 2014, the company opened the BMW Driving Center in Yeongjongdo, Incheon, with a total investment of 90 billion won. This facility, the only one of its kind within BMW Group, combines a driving track with customer experience areas. Since opening, it has attracted over 1.5 million visitors and hosted nearly 240,000 participants in driving programs.
In 2017, BMW expanded its footprint with a 130 billion won investment in a parts distribution center in Anseong, Gyeonggi Province. This center, which is the largest of its kind outside of Germany, manages an inventory of over 86,000 parts and incorporates AI-driven logistics systems.
In April this year, BMW Group relocated and expanded its R&D Center Korea from the BMW Driving Center to a new dedicated facility in Cheongna International City. The new center includes office space, test labs, and EV charging stations and focuses on developing vehicles tailored to the Korean market.
BMW Group Korea also established the BMW Korea Future Fund in 2011, the first nonprofit foundation created by a foreign automotive brand in Korea. As of January this year, the foundation has supported over 260,000 people through educational and social programs, with total donations amounting to approximately 33.4 billion won.
BMW Group Korea has been involved in the development of electric vehicle infrastructure in the country. The company introduced the i3 in 2014, the first fully electric vehicle from an imported brand in Korea. In 2022, the “Charging Next” project led to the opening of Korea’s largest single-space EV charging facility at the BMW Driving Center, capable of charging 80 vehicles simultaneously. BMW Group Korea has installed over 1,300 public EV charging stations nationwide and plans to increase this number to 2,100 by the end of the year.
By Moon Joon-hyun(mjh@heraldcorp.com)
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