Omron Corp says it will start producing automatic teller machines and cash dispensers for banks by the end of this month in South Korea. It will work in co-operation with Chung Ho Computer Co and has already formed Chung Ho Precision Co Ltd in Seoul with Chung Ho and Japanese software company Miki Systems Co Ltd. The unit, capitalized at about $1.5m, is 19% owned by Omron, with the rest owned by the other two. The unit expects sales of about $9.5m in the first year of operation and, according to Omron, this will be the first time that a Japanese company has produced the machines abroad.
