The managing director of Samsung Next Europe told The Times on Wednesday that the Korean company chose Berlin as their European headquarters over London because of its famed affordability. Managing director of Samsung Next Europe Felix Petersen told The Times that he chose the German capital over London for the European office because London had run out of affordable neighbourhoods, adding that the British capital is “not a fun place to live unless you are rich”. Samsung Next Europe is a $150 million technology fund owned by Samsung. MUST READ: London vs Berlin - which is the better capital city? Aside from Berlin’s comparative affordability, some experts have also predicted that the German capital could attract talent away from London due to the UK’s looming departure from the EU.

Source: The Local July 12, 2017 15:45 UTC