May 26, 2013
S-1 Corporation, a Samsung affiliate and South Korea’s leading security advisory business, has signed an agreement with AJM Kooheji Group B.S.C. (c), one of the Bahrain’s leading family businesses.
The agreement was signed as a direct result of the official state visit to South Korea in May 2012, which generated the advancement of previous discussions between the two organisations. The Bahrain delegation was led by His Royal Highness Prince Salman Bin Hamad Al-Khalifa, the Crown Prince of Bahrain, First Deputy Prime Minister and Chairman of the Bahrain Economic Development Board (EDB), with the intention to further strengthen bilateral political, economic and trade relations between Bahrain and South Korea.
Under the terms of the agreement, AJM Kooheji Group will act as S-1 Corporation’s representative in Bahrain, and market their services in the Kingdom. S-1 Corporation was founded in 1997 and provides a range of security solutions, including electronic security services and products and services for homes, buildings, schools and financial organisations, as well as the commercial sectors.
AJM Kooheji Group has been established in Bahrain for over 100 years, and it represents a broad range of global and local brands, including LG (Home Appliances, Electronics & Commercial Air Conditioning); Bridgestone; Yamaha; Kooheji Furnishings; Yanmar Boat Manufacturing Co.; and Delmon Furniture Factory.
Abdul Hameed Kooheji, Chariman, AJM Kooheji Group, said: “We have been in discussions with S-1 Corporation about building a partnership for a period of time, having recognised that its industry leading position and unique offering was a strong fit with our existing portfolio of businesses. Given this, we express our appreciation to His Royal Highness the Crown Prince and the EDB for leading the delegation to South Korea, and helping to secure this agreement between the two parties.”
Kamal bin Ahmed, Minister of Transportation and Acting Chief Executive of Bahrain EDB said: “We are delighted to welcome S-1 Corporation, an affiliate of Samsung, to Bahrain. This agreement demonstrates that international roadshows not only help generate new private and public sector agreements and partnerships, but also act as a catalyst for getting existing relationships expanded or finalising discussions between parties. I have no doubt that this agreement is just one more step in an increasingly strong partnership between the public and private sectors in the Kingdom of Bahrain and the Republic of South Korea.”
The delegation visit to South Korea in May 2012 was one of many international roadshows organised by the EDB, designed to strengthen bilateral relationships between the business communities and highlight investment opportunities in the Kingdom. A number of South Korean companies have operations in Bahrain including: Hyundai Engineering and Construction, Hyundai Heavy Industries, Samsung Engineering, Woori Bank, Dm Puretech Co, Woongjin Development, Myong Sung Engineering and Korea Exchange Bank.
Notes to editors
About The Bahrain Economic Development Board (EDB)
The Bahrain Economic Development Board (EDB) is a dynamic public agency with an overall responsibility for attracting inward investment into Bahrain, and is focusing on target economic sectors in which the Kingdom offers significant strengths.Key areas of focus include manufacturing, ICT, and logistics and transport services as well as other sub-sectors. The Financial Services sector in Bahrain is particularly strong and the EDB supports in the continuing growth of the banking industry and key sub-sectors, including Islamic Finance, Asset Management, Insurance and Re-Insurance.For more information on the Bahrain EDB visit www.bahrainedb.com; for information about Bahrain visit www.bahrain.com
Further information please contact:
Noora Abul, Bahrain Economic Development Board
Tel: +973 17 589 903
Tel: +973 17 589 903