HONG KONG ― South Korea’s Nautilus Hyosung Inc. is considering building a new plant in China as part of efforts to strengthen its status as a leading provider of automatic teller machines in the neighboring country, industry sources said Wednesday.
The company’s Chinese subsidiary, Beijing Hyosung Computer Technology Co., is considering building the plant in an industrial zone in Weihai, a city in eastern Shandong Province, according to the sources.
Nautilus Hyosung accounts for 40 percent of South Korea’s ATM market and produces hardware, software and services for the machines.
Moon Ji-hyuk, head of the Beijing operations, visited earlier this week Weihai Torch Hi-Tech Science Park, one of the three industrial zones in the city, along with the Weihai Economic and Technological Development Zone and the Weihai Export Processing Zone, the sources said.
The purpose of his visit was to conduct a preliminary study on the business environment there, they said.
Beijing Hyosung Computer Technology Co. was set up in January 1997, providing banking equipment in China. It has been operating an ATM manufacturing plant in Beijing since 2001.
