[Edaily Reporter Shin Yeong-bin ] LOTTE INNOVATE(286940)is partnering with Vietnamese IT firm CMC Group to expand into new local businesses, such as data centers and electric vehicle charging. The company plans to leverage its existing experience in financial IT to establish Vietnam as a hub for its Southeast Asian operations.

LOTTE INNOVATE announced on the 14th that it signed a Memorandum of Understanding (MOU) with CMC Group on the 13th in Hanoi, Vietnam, to establish a strategic business partnership.

Through this agreement, the two companies will collaborate in five areas: hyperscale data centers, electric vehicle charging (CPO), cybersecurity, offshore IT services, and cloud computing. They plan to combine LOTTE INNOVATE’s technical and operational capabilities with CMC Group’s local network to identify new customers and business opportunities.

In the data center sector, LOTTE INNOVATE will explore opportunities to enter the Vietnamese hyperscale data center market by leveraging the design, build, and operations (DBO) capabilities it has accumulated in South Korea.

In the electric vehicle charging sector, the companies will explore local CPO business opportunities by leveraging the charging infrastructure construction and operation capabilities of Lotte Innovate’s subsidiary, EVSIS. They also plan to integrate their respective technologies and customer bases in the cybersecurity, cloud, and offshore IT services sectors.

LOTTE INNOVATE has accumulated experience in the financial IT sector in Vietnam. Through projects such as the construction and operation of AgriBank’s IT systems and IT infrastructure projects for INDUSTRIALBANKOFKOREA, the company has gained expertise in local financial systems and operational know-how.

The company plans to use this partnership as an opportunity to expand its existing business—which has focused on financial IT and system operations—into areas such as data centers and electric vehicle charging infrastructure.

CMC Group is a Vietnamese IT company with over 30 years of experience, engaged in software development, artificial intelligence (AI), cloud computing, and digital infrastructure. It also operates overseas offices in South Korea, Japan, the United States, and Europe.

Choi Jong-pil, Head of LOTTE INNOVATE Vietnam, stated, “We are expanding our business scope based on the financial IT experience we have accumulated in Vietnam and the data center and electric vehicle charging infrastructure capabilities we have secured in Korea,” adding, “We will strengthen our local business foundation with CMC Group and actively seek out new business opportunities.”