Lotte Innovate, CMC Group Sign IT Cooperation Agreement
The two companies will explore five areas including hyperscale data centers and EV charging, with EVSIS targeting local charging business.
Lotte Innovate has signed a cooperation agreement with Vietnamese IT company CMC Group to pursue global business opportunities in data centers, EV charging infrastructure and other new business areas, according to datanet.co.kr.
The agreement covers five areas of possible cooperation: hyperscale data centers, EV charging (CPO), cybersecurity, offshore IT services and cloud.
Under the deal, Lotte Innovate will review cooperation possibilities in Vietnam's hyperscale data center market based on its design-build-operate capabilities. Its subsidiary EVSIS will apply its charging infrastructure capabilities to explore local CPO business opportunities.
Existing Vietnam experience
Lotte Innovate has previously accumulated IT system construction and operation experience with Vietnam's Agribank, and worked on IT infrastructure projects related to IBK Industrial Bank's Vietnam operations.
CMC Group has more than 30 years of business history and operates in software development, AI, cloud and digital infrastructure, with overseas bases in Korea, Japan, the US and Europe.
Quick answers
What areas does the Lotte Innovate–CMC Group agreement cover?
Five areas: hyperscale data centers, EV charging (CPO), cybersecurity, offshore IT services and cloud.
Which Lotte Innovate subsidiary is involved in the EV charging side?
EVSIS, which will apply its charging infrastructure capabilities to explore local CPO business opportunities in Vietnam.