LG CNS, a digital transformation (DX) company, has signed a memorandum of understanding (MoU) with Igis Asset Management for a series of new business initiatives. Under the MoU, LG CNS and Igis Asset Management plan to expand their footprint in cloud data centres, targeting both domestic and international markets.
Collaborative Cloud Data Center Venture
Both companies aim to construct cloud data centres, enhance customer acquisition strategies, establish city-based logistics centres, and expand new cloud-based business offerings.
According to the joint statement, the two companies will cooperate with the data centre business first and strengthen the cloud service base through LG CNS's DX technology capabilities and Igis Asset Management's investment assets.
LG CNS's DX Capabilities
LG CNS said that with over 30 years of experience in cloud data centre design, construction, and operation, the company provides "Total Life-Cycle Care" solutions across the data centre, from site selection to business evaluation, consulting, design, construction, operations, and services for rental clients.
The statement noted that LG CNS opened the Incheon data centre, the first dedicated data centre building in Korea, in 1992, and operates its own data centres in four places in Korea, including Sangam, Busan, and Gasan. The company also operates data centres at three global locations in the Americas, Europe, and China.
LG CNS also operates the Korean Region of a global Cloud Service Provider (CSP), a region which holds multiple (about two to three) data centres that are built to provide stable cloud services.
Global Data Center Expansion
"The two companies are currently working together to build large domestic data centres such as Hanam Data Center and Samsong Data Center and plan to expand the global data centre construction business based on LG CNS's overseas business partnership, data centre operation know-how by country, Igis Asset Management's global network and capital power. In particular, through collaboration with Singapore-based Igis Asia, LG CNS will also actively enter the data centre business in Asia," the statement noted.
Maximising Asset Value
This strategic collaboration seeks to combine LG CNS's DX capabilities, including cloud data centres and MFCs (Micro Fulfilment Centres), with the investment expertise and knowledge of Igis Asset Management, Korea's largest real estate asset management firm.
Both companies are said to be determined to shape the future of real estate and infrastructure projects, including data centres and logistics centres, to maximize the value of their assets.