Wipro Ltd is tapping South Korea's technology and automobile firms to expand its R&D outsourcing business in Asia, but has no acquisition plan yet in the country, an executive of the software firm said on August 31.
Bangalore-based Wipro is India's third-largest software services exporter, providing IT solutions and services like system integration, software application development and maintenance, and research and development services.
The company expects South Korea's top companies in businesses ranging from mobile phones and automobile to chip and consumer electronics makers to start outsourcing research and development, which could save them about 30 percent of the costs.
Ramesh Emani, president, product engineering services of Wipro Technologies, told Reuters in an interview he was targeting sales of $25 million for the division in South Korea in three years time.
South Korea made up less than 1 percent of the division's sales of $500 million in fiscal 2005 or about $5 million, while Japan accounted for 10 percent.
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