Samsung snubs London in favour of Berlin because it’s 'not a fun place to live unless you are really rich'

Jul 12, 2017 · The Independent

Berlin

An arm of the technology giant Samsung has decided not to set up its European headquarters in London because the city is "not a fun place to live unless you are really rich".

Speaking to The Times, Felix Petersen, the managing director of Samsung Next Europe, a $150m (£117m) technology fund owned by the South Korean company, said that Berlin had been selected as a location for the fund instead.

He told the paper it had become "increasingly hard for people to build companies" in London and that there were no reasonably priced neighbourhoods left.

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