Tanaka establishes subsidiary in Seoul
Establishing overseas subsidiary in Korea will invigorate transactions and expand business in the markets for fuel cell catalysts, power semiconductor materials, precursors, and precious metal recycling Tanaka Kikinzoku Korea Co., Ltd. has been established in Seoul, Korea as a new base for sales strategy in Korea and begins operating as a new company as of April 3, 2023. Tanaka Kikinzoku Korea Co., Ltd. Background of Establishment In the past, because the base operated in Korea as a branch of Tanaka Kikinzoku Kogyo, a Japanese company, it was necessary to carry out transactions and sales with customers in Korea as a Japanese company. As a result, there were restrictions on transactions in Korea, such as limitations on projects that could be handled due to the inability to use the local currency. Effects of Establishment Through the establishment of this overseas subsidiary, it will be possible to conduct transactions with customers in Korea as a local company using the local currency (the Korean Republic won). This will allow the subsidiary to transact directly with customers in Korea, making transactions smoother and more vibrant, such as allowing delivery of products after completing import customs clearance. In addition, by being positioned as a branch of a Japanese company in the past, the base was not qualified to participate in tenders such as for projects from Korea’s national policy research institutes and waste recovery for precious metal recycling. By establishing the base as a Korean company, it will be possible to bid in Korea for projects using plating equipment and various materials for national research as well as petrochemical catalyst waste recovery. As a result, it is expected that the scope of transactions in Korea will expand significantly. By establishing the branch in Seoul, Korea, as an overseas subsidiary, Tanaka Kikinzoku Kogyo strives to […]