HCL Technologies on Tuesday said it has signed a pact with South Korean software company HANCOM Inc to share advanced software technology solutions and establish a mutual bridgehead for overseas expansion.
HCL Technologies will support training for software development at HANCOM's research and development (R&D) centre in India, which was established in 2016, according to a regulatory filing.
The Indian tech firm will also share its development studio and provide HR support to meet demand and development capacity at the R&D centre, it added.
In addition, it will promote technological cooperation to strengthen HANCOM products' global competitiveness.
The two companies also plan to cooperate on global market expansion, the statement said.
This includes HANCOM's entry into Southeast Asian countries such as Taiwan, Vietnam and Bangladesh, Middle Eastern countries, and HCL Technologies' business expansion into the South Korean market, it added.
"South Korea is a key strategic market for HCL, and this engagement with HANCOM will further help us grow and establish ourselves in the region...we look forward to leveraging HCL's next-gen technological skills and HANCOM's strong presence in the region to mutually support each other," HCL Technologies Corporate Vice-President Sanjay Gupta said.
HANCOM Chief Operating Officer Daeki Kim said HCL Technologies' modern applications and architecture principles will allow HANCOM to scale its products to make them more suitable for enterprise customers in the global market and ultimately achieve global aspirations with its products.
"HANCOM will continue to support HCL in its endeavour to scale its growth in the South Korean market," Kim added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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