CMC, the second-largest technology corporation in Vietnam, has entered into a Memorandum of Understanding (MoU) with Lotte Innovate, a South Korean ICT and digital transformation service provider, to develop a variety of digital infrastructure including cloud and data center projects.
In a press release, CMC revealed that the agreement identifies five priority areas of cooperation: Data Center, EV Charging, Security, Offshoring, and Cloud. It said that the two sides aim to develop data center projects, and when it comes to Cloud cooperation, it “is geared toward developing Vietnam’s cloud computing market, helping enterprises modernize their infrastructure and accelerate digital transformation.”
Minh Tran Van, CEO of CMC Korea, said, “Our partnership with Lotte Innovate goes beyond a step in CMC’s global expansion strategy. It reflects the growing role of CMC Korea in connecting Vietnam’s technology capabilities with Korea’s leading corporations. We expect the two sides to not only deliver high-quality software development services together, but also co-create scalable digital solutions across Vietnam, Korea, and regional markets, as demand for digital transformation and AI adoption continues to accelerate across the region.”
Choi Jong Pil, General Director of Lotte Innovate Vietnam, said, “Vietnam is a key market in Lotte Innovate’s global strategy. Through this partnership agreement with CMC Corporation, we aim to combine the strengths of both sides and explore new opportunities in advanced technology areas, contributing to digital transformation and AI adoption for businesses in Vietnam and the region.”
As per research by Arizton Advisory & Intelligence, the Vietnam data center market size was valued at US$ 1.04 billion in 2025, and is expected to reach US$ 3.19 billion by 2031, growing at a CAGR of 20.47 percent during the forecast period. It says that the market is driven by the growing adoption of digital platforms, advancements in technologies such as AI, expansion of the digital economy, rising internet usage and data traffic, government initiatives, and the increasing number of mobile and social media users.