BUSINESS

Samsung has two-pronged interest in investing in Greece

By Ilias Bellos

Samsung Electronics Hellas may be keepin mum about its parent company’s plans, but the Greek-Korean plan is in full swing, with Samsung showing a two-pronged interest in Greece: The first concerns the company’s research and development sector, and the second its transit activity.

Contacts began some time back with a visit by Greek President Karolos Papoulias to Seoul in early December, while the research and development plans have been discussed at the highest entrepreneurial as well as political level, Kathimerini understands. Papoulias and the rest of the Greek delegation that escorted him to Seoul visited the industrial complex of Samsung Electronics.

The Korean company has also been briefed on the shape that the import of products from Asia to the European markets via Piraeus will take, as formed by a recent agreement between Chinese company Cosco (that operates part of Piraeus port), Hewlett Packard and Greek railway operator Trainose. The deal will lead to some six days less travel for products destined to central Europe as they will not have to sail through Gibraltar to reach the ports of Northern Europe.

Samsung is already present in Greece through its subsidiary Samsung Nanoradio Design Center (SNDC), which is based at the Patras InnoHub. That is also where Greek company Corallia operates, promoting research and technology and hosting such activities of third parties.

Corallia formed part of the mission to South Korea and its representatives had meetings with officials from the country’s high-tech market and with delegates of Samsung Electronics. Corallia said that the meeting included a presentation of the group’s profile and prospects with the aim of attracting foreign direct investments to the country either through the participation in the share capital of companies or in the form of creating major design centers. For his part, Oh-Hyun Kwon, CEO of Samsung Electronics, made special reference to the SNDC in Patra and stated Samsung’s intention to invest further in Greece.

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