State-owned postal service company,PT Pos Indonesia has recently inked adeal with Korea’s postal service agency,Korea Post, particularly to support acorporate restructuring programmeand the development of an informationtechnology system.

CEO of PT Pos Indonesia, HanaSuryana said the co-operation is part ofthe company’s move to achieve moreprofit, including this year’s profit targetof Rp 27 billion, and for long termrestructuring plans.

"Korea Post will provide long term financial support for corporate restructuring, development of infrastructure, improvement of IT and increasing the capability of human resources," Suryanasaid. The agreement is expectedto accelerate the expansion of Posindo’sbusiness and boost services to theIndonesian public, particularly fasterdistribution of mail and packages.

"PT Pos is now undergoing a total transformation through higher efficiency and expansion of its business network," Suryana said, adding that thecompany targets to have 2,000 branchoffices online this year.

The co-operation with Korea Postis expected to facilitate the plans ofPosindo for an IPO scheduled in2010.

– Siktus Harson