Mumbai: Tech Mahindra Ltd, India’s fifth-largest software services exporter, plans to significantly expand its presence in Korea.

The company will establish partnerships with local universities, business schools and trade bodies to enable creation of 300 jobs over the next three years in industries like manufacturing, auto, telecom, aerospace and defence, oil and gas, banking and financial services, healthcare and engineering, Tech Mahindra told the BSE.

Mahindra Group, the owner of Ssangyong Motor Co. Ltd, is already one of the largest foreign investors in Korea.

C.P. Gurnani, managing director and chief executive of Tech Mahindra said, “Our relationship with Korea goes back a long way to Mahindra Auto and we are committed to creating local infrastructure and knowledge base to address the needs of Korean businesses to globalize their operations."

Shares of Tech Mahindra closed 1.14% higher at 2,134.95, while the benchmark Sensex ended 1.21% up at 26,025.80 points.

Meanwhile, Tech Mahindra has signed a joint venture agreement with Midad Holding, which is a subsidiary of Al Fozan, a pre-eminent group with diversified business interests in Saudi Arabia. The joint venture will be called Tech Mahindra Arabia, it was announced in Dubai.

PTI contributed to the story

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