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December 23, 2004

Korean services vendor LG CNS unveils Indian unit

LG CNS, the $1.2 billionn IT services arm of Korean electronics giant LG Group, has opened its first operation in Bangalore, India.

By CBR Staff Writer

The subsidiary, LG CNS Global Private Ltd, will initially provide low-cost systems integration and applications management services to LG and other clients in the US and Europe.

The operation is expected to reach revenue of $30 million, and a headcount of 800 staff within five years. LG CNS is investing $2 million in the company, which starts from a base of 130 employees.

LG CNS was originally set up as a joint venture between LG and EDS Corp in 1997, and is currently is one of the biggest player in the Korean IT services market, with 5,800 employees.

The company is the sole IT service provider for LG Group, but makes more than 50% of its revenue from external clients in the public, finance and manufacturing sectors.

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