Volkswagen Financial Services Korea said Wednesday that it had appointed Hans-Peter Seitz as its new president.

Hans-Peter Seitz, 54, who majored in economics at the Ludwig-Maximilian University of Munich, has worked as CFO for MAN Financial Services, an affiliate of the Volkswagen Group.

He has also been in charge of financial affairs for MAN AG and MAN Financial Services for over 20 years since entering MAN AG in 1994.

Seitz’s appointment indicates that both Volkswagen Financial Services Korea and the Korean car market have become more significant for the Volkswagen Group, company officials said.

Volkswagen Financial Services offers competitive finance and insurance products to retailers that represent their automotive brands as well as to the Volkswagen Group. Volkswagen Financial Services opened its Korean branch in 2011.

“I will try my best for the successful development of Volkswagen Financial Services Korea, as well as become a better partner to the staff members and clients,” Seitz said. 

(sangyj@heraldcorp.com)