Information technology company IBM announced that it has signed an agreement with a Korean steel maker Daehan Steel Co Limited to help it embark on the second phase of its enterprise wide business transformation project. Financial details were not available.

The business transformation project is reportedly a part of Daehan Steel's enterprise wide innovation strategy to support the future growth of the company as 'a total steel solution provider' focused on the fast growing rebar manufacturing business.

Under the current 6 month business model and process re engineering project, IBM will support the establishment of a contract management system, standard cost management, supply chain management, operation system, enterprise resource planning system, pricing strategy planning and diagnosis of Information Technology operations.