Lotte Innovate is partnering with Vietnam's CMC Group to expand its local business operations. By leveraging its financial IT experience in Vietnam and its data center and electric vehicle (EV) charging infrastructure capabilities from South Korea, the company aims to explore new business opportunities in data centers, EV charging, and cloud services while strengthening its presence in the Southeast Asian market.
On October 13, Lotte Innovate announced that it signed a memorandum of understanding (MOU) with CMC Group in Hanoi to establish strategic business cooperation.
The two companies will seek collaboration in five areas: hyper-scale data centers, electric vehicle charging (CPO), cybersecurity, offshore IT services, and cloud services. They plan to combine Lotte Innovate's technical and operational capabilities with CMC Group's local business network to jointly identify new customers and business opportunities.
In particular, in the data center sector, Lotte Innovate will explore collaboration possibilities in Vietnam's hyper-scale data center market based on its accumulated design, build, and operate (DBO) capabilities. The company continues to expand its domestic data center construction and operation business while enhancing its relevant experience and technological competitiveness.
In the EV charging sector, Lotte Innovate's subsidiary, EVSIS, will utilize its expertise in building and operating charging infrastructure to explore local CPO (charging station construction and operation) business opportunities. Additionally, the two companies will consider collaborative approaches that leverage their expertise in cybersecurity, offshore IT services, and cloud services. Lotte Innovate has also been pursuing international expansion in the EV charging business, with EVSIS establishing a local subsidiary in the United States to expand its charging infrastructure operations in North America.
Having operated in Vietnam's financial IT sector, Lotte Innovate plans to broaden its local business scope to include data centers and EV charging infrastructure through this collaboration with CMC Group. The company has previously worked on IT system construction and operation for Agribank of Vietnam and local IT infrastructure projects for IBK Industrial Bank.
CMC Group, Lotte Innovate's partner, is a major Vietnamese IT company with over 30 years of experience. It operates in various fields, including software development, AI, cloud, and digital infrastructure, with overseas bases in South Korea, Japan, the United States, and Europe.
Choi Jong-pil, head of Lotte Innovate's Vietnam branch, stated, "Lotte Innovate is expanding its business scope based on its accumulated financial IT experience in Vietnam and its data center and EV charging infrastructure capabilities from South Korea. Through this collaboration with CMC Group, we will strengthen our local business foundation and actively seek new business opportunities in future growth areas."
Lotte Innovate plans to continue expanding its global partnerships and enhancing synergies between its existing IT services and new growth businesses to increase its competitiveness in the Southeast Asian market.
* This article has been translated by AI.
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