LG CNS Co., an information technology service company under South Korean conglomerate LG Group, announced on Thursday that it signed an investment agreement with Indonesia’s conglomerate Sinar Mas to establish a joint venture (JV) of digital transformation (DX) services
The new JV’s launch is scheduled for the second half of this year.
It will cater to Indonesian corporations and public sector clients, offering services including data center consulting, construction, and cloud transition support.
LG CNS will leverage its accumulated technical expertise and business capabilities in data center and cloud services.
Sinar Mas will spearhead efforts in identifying and securing business opportunities within Indonesia.
Their JV will focus primarily on data center and cloud services, laying the groundwork for further expansion into smart city development and financial IT solutions.
According to global market research firm Gartner, the Indonesian data center and cloud services market is expected to grow 4.2 trillion won ($3.1 billion) in 2023 to an estimated 9.4 trillion won by 2027, at an annual growth rate of 23%.