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Fully addressing IT market of Southwest Asia and Middle East by establishing subsidiary in Pakistan
2005-02-14
Establishing Pakistan subsidiary ¡®Hyundai IT-Pakistan¡¯ ; actively opening business partnerships with global companies
- Agreement with Pakistan¡¯s state-owned communication company (NTC) for implementation of joint financial network
- Focused addressing on financial area and expansion of business to public, medical, airport, education and port areas planned
- Utilizing Pakistan subsidiary as strategic hub and resource pool for addressing IT market of adjacent countries
HIT¡¯s steps for addressing the international market are accelerating with the beginning of the new year.
HIT(www .hit. co. kr), which has shown its strength in the Southwest Asian IT market by completion of Pakistan Central Bank¡¯s computerization project and selection as primary contractor candidate for Bangladesh Central Bank¡¯s computerization project, has started addressing the IT market of Pakistan and adjacent countries by recently establishing ¡®Hyundai IT-Pakistan¡¯, its local subsidiary in Pakistan.
Related to this, HIT announced on the 14th this month that it held the opening ceremony for ¡®Hyundai IT-Pakistan(president: Tariq Naseem)¡¯ in Karachi, Pakistan in which over 200 representatives of both countries, including Mr.Baek Won In, CEO of HIT, Mr.Awais Ahmed Khan Leghari, Pakistan¡¯s minister of information and communication, Mr.Cheon In Pil, General Consul of Korea in Karachi etc . were present and that full-scale business has started.
¡®Hyundai IT-Pakistan¡¯, a wholly owned subsidiary of HIT, consists of 70 local personnel including those currently in charge of Pakistan Central Bank¡¯s computerization project; it will provide comprehensive IT services.
¡®Hyundai IT-Pakistan¡¯ will largely divide its business organization into SI, system and service divisions; it plans to expand business not only to the financial market but also to
public, medical, airport, education and port business areas. In particular, HIT plans, by actively utilizing excellent local manpower with proven technological capabilities to conduct SI projects in adjacent countries, to foster Pakistan as a strategic hub and resource pool for addressing the IT markets of Middle East and Southwest Asia.
In addition to obtaining competent local manpower, HIT plans to sufficiently utilize their local connections and business experience to pursue globalization and localization in a concurrent manner.
HIT is also putting an emphasis on addressing the local market by establishing alliances with global companies.
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