PW forges alliance in South Korea

Price Waterhouse has moved into the South Korean market, joining up with local firm Consulting Software Group (CSG) to form a 140-strong management consultancy and IT practice based in Seoul.

“This joint venture allows us to get into the market with a partner and allows CSG to expand its capability,” said Jeff Dearinger, executive vice president, PW/CSG. “No one has bought anyone, but at some future date there may be a larger combination, though we are not discussing it now.”

Dearinger, who will co-manage the practice with Young S Choi, chairman, president and chief executive officer, pointed out there are numerous opportunities for industry deregulation work for PW, although its main focus will be working with South Korean firms that want to expand globally.

“We plan to hire 40 additional staff in 1997, and in the next two years would like to grow between 35 and 40 per cent.” He added: “We are trying to pursue an aggressive growth pattern, and we are looking to make acquisitions to help us strategically, and to expand our global activities. We would like to acquire a firm like CSG.”