THE University of Papua New Guinea (UPNG) has signed a joint venture agreement with South Korean IT group Samchang Information Technology Co Ltd to assembly laptops and TV screens for the Waigani campus.
UPNG’s business arm, UniVentures Ltd, will undertake this commercial arrangement where it will assemble and sell SIT products.
Vice-chancellor Prof Ross Hynes said during the signing of the deal that this assistance, with its enormous potential, would give leverage in achieving all extra-infrastructural development plans.
UniVentures chairman Camillus Narokobi said they welcome the confidence of SIT Co and look forward to working together in mutual co-operation while strengthening the existing relationship between PNG and South Korea.
Parent company Samchang Group has also announced its willingness to construct a medical teaching hospital and science and technology facilities.
This will be done with assistance from the economic development co-operation fund of South Korea.