ABS Consulting Teams with Samsung Everland Inc. for Risk Management Services in Korea.Business Editors/High-Tech Writers HOUSTON--(BUSINESS WIRE)--March 26, 2004 ABS Consulting and Samsung Everland Inc. formed a joint business alliance to provide enterprise risk management and consulting services for various market sectors in Korea. Frank J. Iarossi, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ABS Group, signed the agreement with Robin Park, President and CEO of Samsung Everland starting March 25 in Seoul. Over the past years, Korea and East Asia East Asia A region of Asia coextensive with the Far East. East Asian adj. & n. encountered a multitude of natural hazard events, including typhoons, earthquakes, floods and windstorms. In September 2003, Typhoon Maemi Typhoon Maemi (international designation: 0314, JTWC designation: 15W, also known to PAGASA forecasters as Typhoon Pogi and sometimes called Super Typhoon Maemi hit Korea leaving the region with 121 casualties and $3.9 billion in property damage. In August 2002, slow moving Typhoon Rusa Typhoon Rusa (international designation: 0215, JTWC designation: 21W) was the 21st JTWC tropical depression (21W), the 15th named storm, and the 10th typhoon of the 2002 Pacific typhoon season. resulted in about 246 casualties and $4.4 billion in property damage. In response to these and other natural and manmade disasters, ABS Consulting and Samsung Everland's alliance offers technology-based solutions to mitigate natural hazard risks in Korea. This alliance with Samsung Everland allows ABS Consulting to market and promote natural and manmade hazard risk management services to various divisions and affiliated companies Affiliated Companies A situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. Notes: An affiliated company is sometimes referred to as a subsidiary. within the Samsung Group The Samsung Group is South Korea's largest conglomerate (chaebol), composed of numerous businesses, including Samsung Electronics, the world's largest electronics company[1] , the Korean government and other potential clients in Korea. "Samsung is to be congratulated for its embrace of the concepts of risk management to address these natural hazard threats to life and property in Korea. ABS Consulting is pleased to be Samsung's partner in this pioneering endeavor. Together we plan to establish systematic, technology-based solutions to mitigate natural hazard risks and to lead the development of a risk management culture within South Korea." Frank Iarossi continued, "In 2003, ABS Consulting initiated a joint venture in China to provide risk management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects services to both government agencies and commercial enterprises. In that same year, ABS Consulting also developed a business alliance with a major Japanese corporation to provide similar services in Japan." About ABS Consulting ABSG ABSG Adult Bible Study Guide (Seventh-day Adventist Church) ABSG Advanced Bash-Scripting Guide ABSG Agri-Business Shippers Group Consulting Inc., (ABS Consulting), is a leading independent global provider of risk management services that combines industry experts, risk modeling, and practical engineering and technology solutions to help business, finance, industry, and government manage risk. Through a comprehensive and integrated risk management approach, ABS Consulting is committed to help clients reduce business interruption and manage catastrophic, operational, and security risks. ABS Consulting headquarters are in Houston, Texas. (www.absconsulting.com) |
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