Pohang, Siemens Healthineers expand cooperation to build global medical device hub

Pohang Mayor Park Yong-seon met Wednesday with Sourabh Pagaria, head of the ultrasound division at Siemens Healthineers Korea, to review the operational status of the company's Pohang factory and discuss plans to expand investment and cooperation, including the expansion of production facilities.

The visit was arranged to assess progress on investment initiatives following a memorandum of understanding signed last year with Pohang and North Gyeongsang Province, and to discuss ways to develop Pohang into a global medical device production hub.

Siemens Healthineers signed the MOU with North Gyeongsang Province and Pohang on Aug. 21 last year and is pursuing foreign direct investment of about 74 billion won ($48.5 million) from 2026 through 2031.

As part of the investment, the city is working to complete the sixth venture building at Pohang Technopark by June next year. The structure has one below-ground floor and two above-ground floors, spanning a total floor area of 10,312 square meters. The facility is intended to serve as a global medical device production base linked to the future expansion of Siemens Healthineers' production capacity.

"The Pohang factory has grown into a core global production hub for Siemens Healthineers, built on outstanding technology and talent," Pagaria said. "Through this investment, we will further strengthen the factory's standing and, in close cooperation with the city of Pohang, grow together with the local community."

Mayor Park said Siemens Healthineers' continued investment would mark a pivotal turning point for Pohang's emergence as a global center for the biotech and healthcare industry. "We will do our utmost to provide active support so that companies can invest and grow with stability, while also broadening cooperation with local businesses to create quality jobs and invigorate the regional economy," he said.