South Korea’s leader in IT, Samsung SDS, and Vietnam’s top IT and telecommunications company, CMC Corporation, signed a strategic investment cooperation contract on July 26.

Samsung SDS representatives will join the Board of Directors at CMC under the contract, share business strategies, and build promotional programs for mutual growth.

CMC will receive the benefits of Samsung SDS’s technological strength and market potential and enhance the Southeast Asian market. In return, Samsung SDS will improve its position in the Vietnamese market by integrating the latest technologies and solutions into CMC’s business network.

The cooperation between the two will develop business in key technology fields, including Smart Factory, Cloud, Security, Building Management Systems IoT, and Digital Signage.

The two will continue to develop business in AI, Blockchain and Big Data. In the business of Smart Factory, Samsung SDS and CMC will focus on South Korean factories in Vietnam, then expand deployment to Vietnamese companies.

Samsung SDS also plans to cooperate with CMC to make the company become a GDC Global Software Development and Maintenance Center in Southeast Asia. CMC will act as the main partner in of Samsung SDS’s business operations in Asia and on a global scale.

“Today, CMC Corporation signed a comprehensive strategic cooperation contract with South Korea’s No. 1 information technology company, Samsung SDS,” Mr. Nguyen Trung Chinh, Chairman and CEO of CMC, said at the signing ceremony. “We believe this cooperation will create miracles in digital transformation, enhancing Vietnam’s position on the world technology map.”

“Together with CMC, Samsung SDS will promote business to support the digital transformation process of customers on a global scale,” said Dr. WP Hong, Chairman and CEO of Samsung SDS.

“The Ministry of Information and Communications would like CMC Corporation and Samsung SDS to strengthen their role as leaders and supporters of other local ICT companies, to develop and create a dynamic ICT community in Vietnam,” said Deputy Minister of Information and Communications Phan Tam.

Samsung SDS and CMC first cooperated in 2016.

In June last year, the two signed a strategic cooperation contract on deploying solutions in smart factory management and administration, MES (Manufacturing Execution System), for Samsung suppliers in Vietnam.

Last November, Samsung proposed comprehensive strategic cooperation in two potential business segments: Samsung SDS (which has recorded $9 billion in revenue in 2019) and Telecommunication Services (Data Center, Cloud) – a fast growing business line.

CMC Telecom is currently the largest partner providing international data transmission to Samsung in Vietnam thanks to its service quality, fast processing speed, and comprehensive back-up system.

This strategic investment agreement confirms the trust of Samsung SDS in CMC and proves the capacity of Vietnamese tech companies in the era of globalization.

Source: http://www.vneconomictimes.com/article/business/samsung-sds-cmc-corporation-sign-investment-contract

See more:

1. https://www.marketwatch.com/press-release/the-strategic-investment-contract-in-technology-in-vietnam-signed-between-samsung-sds-and-cmc-corporation-2019-07-29?fbclid=IwAR3yqmt7DpJW9hKy3VZepJsOHildHPX48d-iJ3E1K7filXIoKV5cwPPoDBs
2. https://markets.businessinsider.com/news/stocks/the-strategic-investment-contract-in-technology-in-vietnam-signed-between-samsung-sds-and-cmc-corporation-1028391452?fbclid=iwar0jhxkwwsx9vioahxkbcxaj0347fif3sgffsq9e4z93bz42tzsjxwe1bhm
3. https://www.djournal.com/the-strategic-investment-contract-in-technology-in-vietnam-signed-between/article_e69d8f9c-f428-5a6c-9868-cb76b76abd07.html?fbclid=IwAR3enQCRv8ByZAbfj3dzxk6sKDxRVkSWJ476Obvwa39yWR0oFAX4yLYTJHI
4. https://finance.yahoo.com/news/strategic-investment-contract-technology-vietnam-000000670.html