Wibu-Systems Expands Global Footprint with New Office in South Korea

After opening our first international office in the Seattle area in 2001, followed by our subsidiary in Shanghai, China in 2003, it was only in 2018 that we did the same in Tokyo, Japan. This year, we chose again the Far East for our new international office in Seoul, Korea.

Strategic Location for Enhanced Services

With strong ties to the Western world and its values, an economy driven by high-tech and telecommunications industries, and a dynamic market, South Korea was one of our top candidates. Highly ranked on the Ease of Doing Business Index, South Korea also enjoys a growing national income per capita and a highly educated workforce – all perfect reasons for investing in this country. From our new office, we will be able to serve a diverse range of industries that rely on Wibu-Systems‘ cutting edge solutions, including manufacturing, automotive, medical technology, and the burgeoning IT sector.

Inauguration Ceremony

The official opening took place during our CEO Oliver Winzenried’s visit to South Korea and China, where he joined the German delegation led by Vice-Chancellor Robert Habeck, who also serves as Federal Minister for Economic Affairs and Climate Action in the cabinet of Chancellor Olaf Scholz. The primary purpose of Mr. Habeck’s visit was to strengthen trade relationships, address economic security, and discuss climate initiatives. Mr. Winzenried had the chance to network with other leaders of German enterprises and attend press meetings, offering him a broader and deeper view of the political strategies in foreign relations. The inauguration ceremony of WIBU-SYSTEMS Korea Ltd. was held in Seoul, with Oliver Winzenried and the newly appointed JungJae Kim, our new Business Partner, in the presence of Dr. Martin Henkelmann, current CEO and President of AHK, the Korean-German Chamber of Commerce and Industry.

The Initial Goals

The new office will enable us to offer more direct and timely support to our customers in South Korea. It also provides a hub for closer collaboration with local partners, facilitating the development of customized solutions that meet specific regional needs. This local presence will help in addressing the unique challenges faced by businesses in the Asia-Pacific market, ensuring they receive the highest level of service and support.

The Next Moves

Even though South Korea is facilitating foreign investments, setting up a new office requires full attention to several details, from selecting team members to training new staff and establishing our market presence. Mr. Kim currently oversees sales, support, and marketing within the region. With a Bachelor of Science in Computer Science from the Illinois Institute of Technology in Chicago and over 20 years of experience in digital transformation and business development roles at Kyndryl, Siemens Korea, TATA Consultancy Services, and Gartner, Mr. Kim is well-equipped to help customers succeed by implementing secure protection and licensing mechanisms, thereby enhancing their software monetization strategies.

It Does not Stop in Korea

At a time when history books are being rewritten, building bridges between different cultures is of the utmost importance. By fostering the best of different worlds, society can advance with great strides into the future with a positive mindset. Besides Korea, you can expect additional bold moves from Wibu-Systems aimed at spearheading innovation while maximizing revenues. While we won’t disclose the exact time or locations, we continue to believe in the rising power of the East, whether in Europe or Eurasia.

KEYnote 48 - Edition Fall/Winter 2024