HCL and HANCOM have signed a strategic partnership to share advanced software technology solutions and establish a mutual bridgehead for overseas expansion
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HCL Technologies Ltd (HCL) is looking to expand into the South Korean market by partnering with HANCOM Inc., one of the leading software companies in that country. Both companies have signed a strategic partnership to share advanced software technology solutions and establish a mutual bridgehead for overseas expansion.
The partnership is expected to help both HCL and HANCOM expand into newer international markets. Whole HCL will get inroads into the South Korean market, HANCOM’s gets entry into Southeast Asian countries such as Taiwan, Vietnam, and Bangladesh, and the Middle Eastern countries.
For HCL, Americas is the largest market that contributed about 63% to the company’s total revenue, followed by Europe which contributed about 28% to the topline for the June quarter. South Korea is categorized under Rest of Word (RoW) which contributed 9% to the total revenues in the June quarter.
“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," said Sanjay Gupta, corporate vice president, HCL Technologies. “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 said it will support training for software development at HANCOM’s research and development (R&D) centre in India, which was established in 2016. HCL will also share its development studio and provide HR support to meet demand and development capacity at the R&D centre. In addition, it will promote technological cooperation to strengthen HANCOM products’ global competitiveness.
“HCL’s modern applications and architecture principles will allow us to scale our products to make them more suitable for enterprise customers in the global market and ultimately achieve global aspirations with our products. HANCOM will continue to support HCL in its endeavour to scale its growth in the South Korean market," said Daeki Kim, chief operating officer, HANCOM.