Latest news with #HyunShin-gyoon
Korea Herald
21-04-2025
- Business
- Korea Herald
LG CNS highlights how mathematical optimization solves business challenges
LG CNS, the IT solutions arm of LG Group, said Monday it had held a forum to highlight how mathematical optimization can tackle complex business challenges, inviting clients from industries including manufacturing, telecommunications, shipbuilding, logistics and chemicals. The inaugural AX Optimization Forum was held Friday at the Conrad Seoul in Yeouido, showcasing innovation cases based on mathematical optimization and exploring related technical trends. The company said the forum was the first in Korea to focus exclusively on mathematical optimization. Mathematical optimization is a technology that evaluates all possible scenarios in a company's decision-making process and suggests the most optimized and profitable outcomes. It is considered a core application for artificial intelligence, including agentic AI, as mathematical optimization plays a critical role in identifying ideal solutions when AI models make decisions. As more companies leverage AI to improve operation and drive innovation, known as AI transformation, or AX, the need for mathematical optimization is also growing, the company added. 'Mathematical optimization is the best solution for companies to maximize their management efficiency and profitability,' said LG CNS CEO Hyun Shin-gyoon. 'We will continue to accelerate customer value innovation through our capabilities in mathematical optimization and AI technologies.' At the forum, the company presented a case study of how its marketing optimization platform, called MOP, brought innovation to the advertising industry. Launched in May 2023, MOP uses mathematical optimization and AI to help sellers maximize advertisement efficiency on portals and display ads. Since its launch, MOP has secured more than 2,000 corporate clients, with total ad spending through the platform surpassing 300 billion won ($212 million), according to the firm.
Korea Herald
17-04-2025
- Business
- Korea Herald
LG CNS makes US debut with smart poles, EV chargers
Korean IT solutions company LG CNS is expanding its global footprint with its first contracts in the US public sector through projects in New York City and Hogansville, Georgia, the company said Thursday. LG CNS signed a pilot project agreement with the New York City Economic Development Corporation to build electric vehicle chargers and a control system at the Brooklyn Army Terminal, the city's startup hub for real-world technology testing. The company will provide an integrated solution that includes charging infrastructure, energy monitoring and a mobile app for real-time charger availability, reservation and usage tracking. The system will be powered by LG CNS's proprietary Cityhub Building platform, which allows monitoring and remote control of energy and facility operations. The project aligns with New York City's Green Economy Action Plan, reflecting recognition of LG CNS's capabilities in eco-friendly smart infrastructure. In Georgia, LG CNS will install smart poles across Hogansville's downtown and parks. These poles combine street lighting with public Wi-Fi, AI CCTV and environmental sensors, and will also be managed via the Cityhub platform. Additional features include EV chargers, digital signage and emergency call buttons connected to local police. LG CNS plans to expand the project to nearby cities, including LaGrange and West Point in Georgia. 'This project demonstrates global recognition of LG CNS's smart city technologies,' said CEO Hyun Shin-gyoon. 'We will continue to lead eco-friendly urban innovation in the US and beyond.'
Korea Herald
15-04-2025
- Business
- Korea Herald
LG CNS, Google Cloud join hands to expand AI solutions to Asia, Americas
LG CNS and Google Cloud are teaming up to expand cloud-based artificial intelligence transformation services across Asia and the Pacific as well as the Americas, the South Korean IT solutions provider said Tuesday. LG CNS CEO Hyun Shin-gyoon recently met with Google Cloud CEO Thomas Kurian and Karan Bajwa, the managing director of Google Cloud Asia-Pacific at Google Cloud Next 2025 in Las Vegas to reinforce strategic cooperation between the two companies, the company said. Under the partnership, the two companies will collaborate across all industries in the AI transformation sector. LG CNS said it will utilize its cloud, AI technology and IT services with Google Cloud's generative AI and cloud solutions to support enterprise clients in the Asia-Pacific and Americas in adopting company-wide AI strategies. 'LG CNS is an AX (AI transformation) specialist with generative AI capabilities across multiple business domains,' Hyun said. 'We plan to expand our AX business into the Asia-Pacific and the Americas through our collaboration with Google Cloud and aim to become a top player in the health care and bio AX markets as well.' Using Google's AI model, Gemini, and enterprise AI platform Vertex AI, LG CNS said it will build hundreds of generative AI services that can be used in manufacturing, finance, retail, telecommunications and the public sector. Among the key target markets are the rapidly growing health care and biopharmeceutical sectors. LG CNS, for instance, plans to build AI agents that can help researchers gain insights from pharmaceutical data, as well as services for genome data analysts and protein structure prediction for drug discover, the company explained. The global digital health care market is projected to grow over 20 percent annually and reach about 2,400 trillion won ($1.69 trillion) by 2033, according to Bioeconomy Research Center of the Korea Biotechnology Industry Organization. 'Google Cloud offers the most open cloud in the industry and is committed to accelerating our customers' digital transformation,' Google Cloud Korea Country Director Chi Ki-sung said. 'Through our AI-enhanced partnership, LG CNS will be able to develop new capabilities to improve operations and create real value in the healthcare sector using Google Cloud infrastructure.'
Korea Herald
07-04-2025
- Business
- Korea Herald
LG CNS to build AI platform for Mirae Asset Life in W130b deal
LG CNS announced Monday that it has signed a 130 billion won ($88.8 million) deal with Mirae Asset Life Insurance to support the insurer's artificial intelligence transformation and the development of next-generation systems. Under the agreement, LG CNS will build a generative AI platform for Mirae Asset Life and implement a multi-hybrid cloud environment. The Korean IT services provider will also lead a full-scale overhaul and upgrade of Mirae Asset Life's core systems, including insurance product development, contract management, payments, accounting and sales operations. The project will be carried out over the next two years, the company said. Key executives, including LG CNS CEO Hyun Shin-gyoon and Mirae Asset Life Vice Chairman and CEO Kim Jae-sik, attended the signing ceremony held recently at Mirae Asset's headquarters in Seoul. 'LG CNS will leverage its extensive expertise in financial IT to help Mirae Asset Life transform its business through an AI-driven, next-generation system,' said Hyun. 'We aim to build a mutually beneficial ecosystem and achieve sustainable growth moving forward.' As part of the project, LG CNS will train large language models on the life insurer's vast data assets and establish a generative AI platform for internal use. This platform will allow employees to easily retrieve necessary information by interacting with the AI, enhancing operational efficiency. In the future, the platform is expected to be extended to customer service applications, enabling automated responses to customer inquiries. LG CNS will also deploy a multi-hybrid cloud structure, integrating services from major public cloud providers such as Amazon Web Services, Microsoft Azure and Google Cloud, alongside the company's private cloud infrastructure. This setup will allow Mirae Asset Life to process sensitive data in-house while leveraging public cloud services for other operations, offering both flexibility and enhanced regulatory compliance, the company explained. The project also includes plans to revamp major operational systems, including insurance product development, contract management and payment processing. A new unified product information management system will enable faster development of personalized insurance products, LG CNS said. Both companies also pledged to continue collaboration in AI research and development, holding joint meetings to explore new business models and innovation opportunities.
Korea Herald
04-03-2025
- Business
- Korea Herald
LG CNS, AWS launch task force to support enterprise AI integration
LG CNS said Tuesday it has established a task force in collaboration with Amazon Web Service to support companies facing technological, cost and time constraints in adopting generation AI services. The AWS-LG CNS GenAI Launch Center aims to develop 100 enterprise-level generative AI services rapidly and cost-effectively. LG CNS has secured multiple AI transformation projects in the financial sector, including banking, insurance, securities and credit card services, while expanding its presence in manufacturing. The company also obtained AWS generative AI competency certifications last year. Through the new center, business clients will be able to implement solutions such as customized chatbots, marketing content and image generation services, and issue summarization and response platforms. To enhance the speed of generative AI service development, LG CNS will leverage its proprietary AI solutions, allowing seamless AI integration into existing enterprise applications. Moreover, LG CNS and AWS will strengthen their synergy in generative AI services. Through Amazon Bedrock, a managed service that provides access to major AI foundation models, clients will be able to select the most suitable AI model for their needs. In addition to AWS' next-generation foundation model Amazon Nova, companies will also gain access to AWS' high-performance computing hardware. 'Through our collaboration with AWS, we will lower the barriers for all domestic enterprises to adopt generative AI. Both companies will actively pursue joint generative AI business initiatives and expand into the Asia-Pacific and Japan markets,' said LG CNS CEO Hyun Shin-gyoon.
