LG CNS has established a strategic alliance with IGIS Asset Management, a South Korean real estate asset manager, with the objective of venturing into new sectors, including cloud data centers and micro fulfillment centers (MFCs).
Within the framework of this agreement, both entities will collaborate on the expansion of domestic and international cloud data center construction efforts, the attraction of fresh clientele, the development of urban logistics hubs, and the initiation of enterprises rooted in AI and cloud computing technologies.
Presently, LG CNS and IGIS Asset Management are engaged in joint efforts to construct large-scale data centers within South Korea. Leveraging LG CNS’ wealth of overseas business partnerships and expertise in managing global data centers, combined with IGIS Asset Management’s extensive global network and financial resources, these companies aspire to broaden their scope in the international data center construction arena.
Of notable interest is their active pursuit of opportunities in Asia’s data center sector, which will be facilitated through a strategic partnership with IGIS Asset Management’s Singapore-based subsidiary, IGIS Asia.
In light of the recent trend of logistics facilities transitioning from rural to urban locations to cater to the escalating demand for speedy deliveries, LG CNS and IGIS Asset Management are committed to concentrating their efforts on MFC businesses situated in urban areas.
Earlier this month, South Korea’s the Ministry of Trade, Industry, and Energy also announced to build a 120-megawatt data center in the southern industrial city of Pohang, North Gyeongsang Province, with an estimated investment of 1.5 trillion won (equivalent to $1.12 billion) by the year 2027.
