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Hyosung Group to provide 8,000 ATMs to Mexican countryside

Hyosung Group to provide 8,000 ATMs to Mexican countryside

Posted November. 08, 2019 07:38,   

Updated November. 08, 2019 07:38


Hyosung Group Chairman Cho Hyun-joon, who is having his eyes on the global market, had a meeting with Mexican President Andrés Manuel López Obrador at the Presidential Palace in Mexico City, Mexico on Wednesday (local time) to discuss ways of cooperation.

Cho expressed appreciation to the Mexican president for giving him the opportunity to take part in the “Rural ATM Project,” a large government-led project. “This project presents an important opportunity for Hyosung Group to practice corporate social responsibility as well as creating a profit,” Cho said. “We will spare no effort to improve the quality of life for the less fortunate and make welfare programs more accessible in the country.”

The “Rural ATM Project,” for which Hyosung TNS, Hyosung Group’s IT subsidiary, received the order, is part of Mexico’s large-scale welfare project. Mexican people eligible for the welfare program will be able to use their welfare cards to withdraw cash at cashpoints.

Cho has reportedly led the efforts to win the contract since early last year. “The share of Hyosung TNS in Mexico’s ATM market is expected to increase from 2 percent to 15 percent if the company supplies 8,000 ATMs by the end of next year,” said a source from Hyosung.

Keun-Hyung Yoo noel@donga.com