[2010/05/19]

Koscom concluded a contract with Golden Bridge Investment&Securities for PowerBase Service for the next ten years

Koscom(CEO Kim, Kwang Hyun) announced on May 19 that it has concluded a contract with Golden Bridge Investment&Securities for PowerBase Service for the next ten years.

Under the contract, Koscom will offer a ledger system for securities futures business, network system, HTS and backup system to Golden Bridge Investment&Securities through PowerBase service, a total outsourcing service handling IT business for futures firms.

Golden Bridge Investment&Securities is supposed to choose Koscom's PowerBase service due to the changing environment according to the 'Financial Investment Services and Capital Markets Act, which came into effect last year and the dramatic increase in  IT investment cost to accept a new system such as anti money laundering and securities clearing.

An official from Golden Bridge Investment&Securities stated, "With the PowerBase service, we can reduce the cost of building a system as well as remove the risk occurring in the process of developing a new system. Moreover, it has an effect to minimize the possible increase of IT investment cost with a ten-year contract. And we expects to further strengthen our competitiveness with an excellent customer service in the future.

Koscom CEO Kim, Kwang Hyun stated, "Through the contract, Koscom's PowerBase service will emerge as a new alternative in the securities&futures industry as proper response is difficult in case of expanding a new business and the increase of IT investment cost gives a lot of burdens.  (The End)