[THE INVESTOR] Samsung Electronics has decided to maintain its Europe headquarters in the UK after considering relocation to other European Union countries such as the Netherlands and Germany in the wake of Brexit.

Citing an unnamed Samsung executive, Maeil Business News reported on July 6 that the Korean tech giant has no plan to relocate its Europe headquarters. 

“Maintaining the current location is the company’s official stance,” the executive was quoted as saying by the newspaper.

An exodus among Korean firms operating in the UK has been speculated following Britain’s recent decision to leave the EU.

According to industry sources, Samsung had also considered relocating its European headquarters that is currently located in Chertsey on the outskirts of London.

Its UK operations mainly handle sales and marketing activities, while the company’s production plants are located in Eastern Europe such as Poland.

But the newspaper said that the company foresees no immediate impact from Brexit.

“We see more benefits from maintaining the current location,” another Samsung official was quoted as saying. “Because we already operate sales units in key EU countries, it is no big deal whether Britain leaves EU or not.”

By Lee Ji-yoon (jylee@heraldcorp.com)