South Korea’s leading IT solutions developer LG CNS has set up a joint venture with Uzbekistan’s ICT Ministry in the central Asian nation.
The joint venture, named LG CNS Uzbekistan LLC or LG CNS Uzbek, will be focused on developing ICT solutions for the private and public sectors, according to the Korean firm.
LG CNS CEO Kim Dae-hoon (fourth from left) poses with Uzbek government officials and executives from UZTELECOM and Unicon in the central Asian nation on Monday. (LG CNS)
The Korean IT company will hold a 51 percent share of the joint venture while UZTELECOM and Unicon, which are state corporations run by the Ministry of Development of Information Technologies and Communications of the Republic of Uzbekistan, will have 29 percent and 20 percent stakes, respectively.
LG CNS Uzbek will be able to participate in all the government-led projects for installing IT systems for the public and private businesses.
The ministry is currently establishing database systems for individuals and private firms, a digital platform for the e-government, digital tax systems, smart card infrastructure for public transport and billing systems for UZTELECOM subscribers.
The Korean firm and its partners have also agreed to work together to develop businesses for solar power generation and smart grids.
“As a leading ICT company in Korea, LG CNS will leverage its technology and business capabilities to contribute to beefing up the competitiveness of Uzbekistan’s ICT industry,” Kim Dae-hoon, the chief executive of the Seoul-headquartered firm, said.
By Kim Young-won(email@example.com