Bankware Global Secures Contract to Build PPOD System for Pakistan Post

Bankware Global (stock code: 199480) announced that it has signed a contract with the Pakistan Post Office Department (PPOD) on August 10, 2026, for the "Establishment of PPOD System and Software Supply." This contract is a finalized agreement without any conditions, and the finalized contract amount for Bankware Global is approximately 7.975 billion won (excluding VAT). This project will be carried out in a joint venture format. The total contract amount is USD 18.278 million, of which Bankware Global's share is approximately 28.3%, resulting in a contract amount of USD 5.168 million, or approximately 7.975 billion won in Korean won. The exchange rate used is the average exchange rate for the previous two months as announced by the Export-Import Bank (USD 1 = KRW 1,543.01). The PPOD, the counterparty to the contract, is a public institution responsible for postal and postal financial services in Pakistan. Bankware Global has no prior history of similar contracts with the PPOD within the past three years. The contract period begins on August 7, 2026, and ends on March 6, 2028, with the system establishment and software supply taking approximately 19 months. The payment terms are based on a total contract amount, with an initial payment of 20% of the contract amount. The remaining 80% of the construction costs will be paid in stages based on the schedule for each area's construction and inspection, as well as the commencement of operation and maintenance. Payments will be made through a direct debit system via the Export-Import Bank (EXIM) after customer inspection and confirmation. The production will be carried out internally without outsourcing. This contract amount represents approximately 12.6% of Bankware Global's consolidated annual revenue of 63.4 billion won for 2025, making it a significant contribution to the company's performance as a single contract. However, due to the nature of the joint venture, the proportion and amount of the contract for each party may vary depending on the progress of the project and the contract terms, which remains a risk factor. This project, targeting public financial infrastructure in Pakistan, is significant for Bankware Global in terms of expanding its overseas financial software business.