Thursday, November 14, 2019
LG CNS to Expand LG Community Currency Platform Service
New Services for Digital Transformation Released
LG CNS to Expand LG Community Currency Platform Service
  • By Kim Eun-jin
  • June 20, 2019, 11:38
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Kim Ki-young (left), head of LG CNS blockchain business team, demonstrates a blockchain-based payment service called Magok Pay.

LG CNS has released new services aimed at facilitating digital transformation of corporations based on cloud computing, artificial intelligence (AI), big data, robot process automation, and blockchain.

The company presented its business plans at Tech Day 2019 held on June 19 at LG Science Park in Seoul.

LG CNS plans to convert more than 70 percent of its in-house computer services to cloud within 70 days and expand the customers of its AI-based big data platform and robot process automation services. In August, it will work with KB Kookmin Bank to introduce the Magok Community Currency Platform, a blockchain-based payment system.

LG CNS has officially launched CloudXper, a customer-customized cloud-integrated management platform. CloudXper allows it to manage client companies’ cloud systems. LG CNS plans to change the network of LG Group affiliates to cloud in order to secure external customers.

LG CNS also released DAP 2.0, a cloud-based AI learning and AI model generation tool. Actual service cases include cases of abnormal transaction detection such as AI inspections of defective parts of manufacturing factories, and AI-using credit card companies and insurance companies.

The robot process automation (RPA) is a solution that reduces simple and repetitive time-consuming tasks. For example, if a person enters data and e-mails to several people, the RPA can reduce the time previously taken from 30 minutes down to three minutes.

Im Eun-young, leader of the RPA platform team, said, "Last year, we simplified our business by using RPA in financial and human resources divisions for group affiliates, and this year, we are expanding the application to SCM, production, marketing, research and development, audit, and patent areas."

LG CNS and KB Kookmin Bank plan to present the Magok Community Currency Platform in August. This is a blockchain-based service for real-time money charging, transfer, payment and withdrawal. LG CNS has provided a demonstration service to LG CNS headquarters employees under the name Community Currency, which is a blockchain-based restaurant payment and mobile ID service.

Kim Ki-young, head of the LG CNS blockchain business team, said, "The Magok Community Currency was provided for employees, and we are discussing ways to expand it to the affiliate employees in the LG Science Park."