Korea's LG CNS launches cloud cost optimization service

LG CNS, a South Korean company specializing in digital transformation, announced on Tuesday the launch of its new service called "FinOps" Clinic.

FinOps is a combination of "Finance," and "DevOps," an organizational and cultural methodology that integrates development and operations to improve the speed and reliability of service delivery. It implies systematically managing cloud usage costs by closely integrating finance and cloud operations.

The FinOps Clinic service is composed of three phases: information, optimization and operation. The information phase provides customers with a comprehensive view of their multi-cloud usage status and costs, along with a monitoring program.

Multi-cloud refers to the practice of using multiple cloud services providers like Amazon Web Service, Microsoft and Google Cloud, instead of relying on a single provider.

During the optimization phase, the service analyzes three months of cloud usage data to identify resources that can be optimized to deliver optimal performance at a minimal cost. This includes identifying wasted cloud resources and power scheduling to automatically stop using resources when they are not in use.

Lee Jae-seung, the executive director of Cloud Business at LG CNS, stated that the FinOps Clinic service is essential for effective cloud cost management during economic downturns and will become even more important in the future.

He also said that LG CNS is committed to supporting its customers' business success by utilizing its cloud management service capabilities and know-how.

Write to Ji-Eun Jeong at jeong@hankyung.com