- Signed a global service agreement - joint business development and marketing

Daewoo International and POSCO ICO are set to cooperate more actively in their global business lines. The two companies signed a global service agreement on the 15th of this month, with the participation of the relevant parties, including Nam-suk Hur, CEO of POSCO ICT, and Dong-hee Lee, vice president of Daewoo International. Based on the agreement, the two companies will strengthen their cooperative efforts by making the most of the global sales infrastructure possessed by Daewoo International, and jointly develop business opportunities in overseas markets.

The two companies will also form and operate a committee to receive overseas business orders. Regarding the receipt of orders, they will hold a working level meeting for each business item more than once a month, and exchange market information among the persons in charge. In particular, POSCO ICT invited the global staff of Daewoo International to Korea, and held a briefing meeting on technologies and solutions in the railway, environmental, energy, and e-Government fields.

POSCO ICT conducts a significant amount of business in South America, Africa, and Asia, including the development of railway, new renewable energy, and e-Government systems. In cooperation with Daewoo International, which has a global network and excellent human resources, the two companies are expected to create a powerful synergy effect in various overseas businesses.