Indian IT services company Tech Mahindra has announced that it plans to expand significantly in Korea and hire 300 in next 3 years and create an ecosystem involving universities, trade bodies and alliances to create jobs.

The Mahindra Group is the owner of Ssangyong Motor and is already one-of-the largest foreign investors in Korea.

"Korea's growth and rise encourages us to explore its potential to connect with the world market today. Our relationship with Korea goes back a long way through Mahindra Auto and we are committed to creating local infrastructure and knowledge base to address the needs of Korean businesses globalize their operations," said CP Gurnani, MD & CEO, Tech Mahindra in a statement today.

Tech Mahindra said that in Korea the company will offer an array of innovative solutions and consulting services in industries such as Manufacturing, Auto, Aerospace & Defense, Telecom, Oil & Gas, BFSI, Healthcare, Engineering Services, Device Engineering, Telecom and EBS.

The company will establish partnerships with local universities, business schools and trade bodies to enable creation of 300 jobs in the next 3 years.

Tech Mahindra said it believes that localization is the key to achieve this target and plans to run as a local Korean company in partnership with a Korean conglomerate.

"This plan by Tech Mahindra underscores the Group's commitment to the Korean market," said Dilip Sundaram, Senior Vice President and Country Director, Mahindra Korea. "This is a market that nobody can ignore and we look forward to further strengthening our partnership."

Tech Mahindra has been active in the Korean market since 2002.