Suntech Opens Sales Office in South Korea
New Office to Accelerate Business Development in South Korea and Expand Customer Service Capabilities
San Francisco, CA, Feb. 13, 2008
Source: Suntech Power Holdings Co. press release
http://www.suntech-power.com/News/tabid/99/Default.aspx?id=311&Module=597
Suntech Power Holdings Co., Ltd. (NYSE: STP) one of the world’s leading manufacturers of photovoltaic (PV) cells and modules, today announced the opening of a sales office in South Korea to accelerate Suntech’s business development and broaden local customer service capabilities. Dr. Zhengrong Shi, Suntech’s Chairman and CEO, said: “The South Korean market for solar energy has quickly developed into one of the key drivers for solar demand in Asia and we are very pleased to have established a base there. In a short time frame, we have put together a strong team consisting of four people with over 15 years of combined experience in the PV industry. Our team will focus on building strong customer relationships and delivering exceptional pre and post sales service. This office is integral to Suntech’s plan of developing and maintaining key customers in diverse markets with long term growth potential.”
South Korea is one of the foremost supporters of the solar industry, with attractive feed-in-tariffs of more than US$0.70/kWh and an impressive target of 1.3GW installed PV capacity by 2011. “The government’s strong commitment to renewable energy has set a firm foundation for long-term, sustainable growth of the solar industry in South Korea and Suntech is determined to support this goal through the supply of high quality and reliable solar products. With our growing team in South Korea, we target to expand our sales five-fold from 2007 to 2008,” continued Dr. Shi.
In November 2007, Suntech collaborated with Hyosung Corporation to complete the first stage of a 3MW solar energy system for WEPCO (Korea Western Power Co., Ltd.). WEPCO is a subsidiary of KEPCO (Korea Electric Power Corporation), South Korea’s largest power company. “It is our hope that this new office will enable us to expand our collaborations with key partners such as WEPCO and Hyosung and further solidify our position as a leading supplier of PV modules in South Korea,” added Dr. Shi.
The contact details for Suntech’s new office in South Korea are:
Room 818-819, Hanshin Inter Velly 24 East Bldg, 707-34 Yeoksam dong, Gangnam-gu, South Korea 135-080