ABB opens office in Democratic People’s Republic of Korea

Early move to Pyongyang for global technology group

Zurich, Switzerland, June 28, 2001 – ABB confirmed today that it has officially opened an office in Pyongyang, the capital of the Democratic People’s Republic of Korea (DPRK), solidifying an agreement signed last November to help improve the performance of the country’s electricity transmission network and basic industries.

ABB announced the opening at a special ceremony attended by senior company officials and local government representatives.

“The local government and organizations have been very receptive to our arrival, and we look forward to helping this country develop sustainable levels of electrical power supply,” said Jörgen Centerman, president and CEO of the ABB Group.

ABB announced in December 2000 that it intended to pursue business opportunities in DPRK. ABB officials at the opening ceremony say subsequent meetings were held to outline investment opportunities and technical cooperation in the area of modernizing DPRK’s national electric grid, and upgrading electrical equipment and control systems in its power and industrial plants.

Sune Karlsson, senior officer and head of large projects for ABB Group, said a further two key meetings took place in 2001, during which working groups were organized and specific tasks outlined.

“Furthermore, we were asked by the Ministry of Electrical Power and Coal Industry (MEPCI) and the local electrical authority of a county north of Pyongyang to assist with the electrification of a farming and rural development project,” said Karlsson.

ABB said its November 2000 agreement will also explore cooperation with DPRK partners in the manufacture of electrical products and the provision of services, as well as look for ways to improve performance and efficiency in the manufacture of electrical products such as transformers, circuit breakers, cables and the supply of complementary electrical products, systems and equipment.

ABB appointed group representative André Reussner, a Swiss national, to head the office, which is leased from the North Korean government.

ABB (www.abb.com) serves manufacturing, process and consumer industries, utilities, and the oil and gas sector markets with 160,000 employees in more than 100 countries.

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