LG CNS, IGIS to collaborate in new biz for digital transformation

South Korea's information and communications technology service provider LG CNS on Wednesday said it will cooperate with the Seoul-based IGIS Asset Management in developing new business like construction of centers for cloud data and urban distribution.

Both companies will jointly explore ventures including building cloud data centers in South Korea and abroad and attracting clients, setting up urban distribution centers, and pursuing sectors featuring artificial intelligence and cloud computing.

First, they will build large data centers in the cities of Hanam and Goyang, Gyeonggi Province, and enter the Asian data center market through collaboration with the Singapore-based IGIS Asia.

For urban distribution centers, LG CNS will build logistics infrastructure and run facilities and IGIS will provide real estate assets and capital investment to attract clients.

“We will lead future-oriented business by combining LG CNS' digital transformation capabilities such as in centers for cloud data and micro fulfillment with the investment expertise and know-how of IGIS Asset Management, Korea’s largest real estate asset management company,” LG CNS CEO Hyun Shin-gyoon said.

Write to Hae-Sung Lee at ihs@hankyung.com