LG CNS announced on July 2 that it has signed a strategic collaboration agreement with Amazon Web Services (AWS), the world’s largest cloud service provider, to in order to collaborate on the South Korean company’s expansion of cloud services in the country.
LG CNS has formed a strategic partnership with AWS for the first time in the domestic industry. The company expects that it will accelerate domestic companies’ introduction of cloud solutions based on the partnership. AWS will help LG CNS design, establish and operate new cloud services so that the South Korean company can expand its local corporate customers further.
AWS will also provide LG CNS with its competence in cloud strategy, methodology and consulting services. Through this, LG CNS will be able to offer comprehensive cloud services from consulting to planning, designing, construction and operation by refining its cloud technologies.
The two companies have also agreed to cooperate in the artificial intelligence (AI) and big data sectors. LG CNS will make use of AWS’ natural language processing service Amazon Lex and deep learning-based image analyzing solution Amazon Rekognition in its bid to carry out joint studies in the AI and big data sectors and develop new technologies and related businesses.
According to market research firm IDC, the domestic public cloud market is expected to show an annual average growth rate of 15 percent from 800 billion won (US$698.69 million) in 2017 to 1.3 trillion won (US$1.14 billion) in 2021. With the latest partnership, LG CNS is planning to take the lead in strengthening the competitiveness of the domestic cloud industry.