Volvo Financial Services launches Customer Financing in Korea1/20/20
Volvo Financial Services (VFS), the global financial services arm of the Volvo Group, announces the launch of VFS operations in Korea through the newly established Volvo Financial Services Korea Co.,Ltd.
Gary McCartney, Acting President for VFS, comments, “We are excited to partner with Volvo Trucks and Volvo Construction Equipment to begin offering financial services to customers in Korea. Korea is an important market to the Volvo Group, and the investment in local VFS operations underlines this.”
Through providing competitive and flexible financial solutions to all Volvo Group customers in Korea, VFS Korea supports Volvo Group development and fulfils its commitments to a successful future in Korea.
“Launching VFS Korea enables Volvo Group brand partners to offer local customers with a total integrated financial solution,” says Sungmo Yang, Managing Director of Volvo Group Korea, “It is an important initiative in our long-term growth plan in Korea.”
According to Paul Le Houillier, SVP and President of VFS Region APAC, VFS Korea is fully committed to deliver financial solutions that support our Volvo Group brands and Volvo customers’ success in Korea.
“With all the combined expertise in the Volvo Group, VFS Korea is dedicated to developing an exceptional one stop shopping experience to customers and meeting the demands of Korea’s changing market,” says Jin W. Choi, Managing Director of VFS Korea. “VFS consist of a team of experts who understand both transportation and construction industries in the Korea market. Therefore, we can quickly respond to market changes and provide tailored solutions that support our customers’ success.”
Details about VFS Korea offering can be found at www.vfsco.kr.
About Volvo Financial Services
Volvo Financial Services is the global finance arm of the Volvo Group. The Volvo Group is one of the world's leading manufacturers of trucks, buses, construction equipment and marine and industrial engines. The Group also provides complete solutions for financing and service. Volvo Financial Services was formed in 2001 and is headquartered in Greensboro, North Carolina, USA. The company manages a net credit portfolio of over SEK 170 billion (US $17.7B), employs over 1,500 people worldwide, and supports more than 90% of Volvo Group sales with customer financing.
Volvo Group in Korea
Volvo Group currently employs more than 1,800 employees in Korea and is the leading seller of construction equipment and commercial trucks. Volvo Group operates factory in Changwon, Korea that manufactures excavators for the Volvo Construction Equipment customers throughout the world.