LG CNS, IGIS Asset Management join hands for data center, logistics

By Baek Byung-yeul, The Korea Times -LG CNS forged a partnership with real estate investor IGIS Asset Management to develop new businesses such as cloud data centers and micro fulfillment centers (MFCs), the company said Wednesday.

Under the agreement, the two sides will cooperate on expanding the construction of cloud data centers at home and abroad, attracting new customers, building urban logistics centers and launching new businesses based on AI and cloud computing.

LG CNS and IGIS Asset Management said they are currently working together to build large-sized data centers domestically.

Utilizing LG CNS' overseas business partnerships and know-how in operating data centers internationally, and IGIS Asset Management's global network and capital, the companies plan to expand their global data center construction operations.

In particular, they will actively seek new opportunities in Asia's data center business through collaboration with IGIS Asset Management's Singapore-based subsidiary IGIS Asia.

Given that logistics bases located in rural areas have recently moved to urban areas to meet the growing demand for faster delivery, the two companies aim to focus on urban-based MFC business.

As the country's leading logistics automation service provider, LG CNS will be in charge of building MFC infrastructure and operating facilities by utilizing technology such as AI, data and logistics robots. IGIS Asset Management will be responsible for real estate assets and capital investment and will work together to attract customers.

"By combining LG CNS' digital transformation capabilities such as cloud data centers and MFCs with the investment expertise and know-how of IGIS Asset Management, the largest real estate asset manager in Korea, we will foray into new businesses," Hyun Shin-gyoon, CEO of LG CNS, said.

"Based on our strategic collaboration with LG CNS, we will continue to create future real estate and infrastructure business opportunities, such as data centers and logistics centers, to maximize the value of our assets," Kang Young-goo, chairman of IGIS Asset Management, said.

Source: https://www.koreatimes.co.kr/www/tech/2023/09/133_359683.html 

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