SEOUL, South Korea, Dec. 3, 2024 /PRNewswire/ -- LG CNS, a leading digital transformation (DX) company, announced its entry into the DX technology sector for U.S. buildings by signing a Memorandum of Understanding (MOU) with SomeraRoad, a U.S.-based opportunistic real estate investment and development firm, and Mastern America, the U.S. branch of Korea's prominent alternative investment1) company, Mastern Investment Management.
The MOU signing ceremony took place at SomeraRoad's headquarters in New York City, attended by Moon Keun Choi, Senior Vice President of LG CNS; Ian Ross, Founder and Managing Partner of SomeraRoad; Fergus Campbell, Managing Partner of SomeraRoad; and Joseph Oh, CEO of Mastern America.
SomeraRoad is an opportunistic real estate investment and development firm that takes an entrepreneurial and opportunistic approach to commercial real estate across a wide spectrum of asset classes, geographies, investment products, and risk profiles, while Mastern America has a proven track record of developing major office buildings in big cities, including One Madison Avenue in New York City's Manhattan district.
Under the MOU, the three corporations will collaborate on smart real estate initiatives, incorporating DX technologies such as AI, IoT, and automation to transform building management efficiency and enhance user experiences. The initiative will focus on investment and development of smart technology into SomeraRoad projects including hotels and luxury condo projects, multi-family residential properties, within mixed-use projects in Kansas City (Missouri), Nashville (Tennessee), and other locations. Additionally, they will explore projects that implement DX technology in smart aviation infrastructure, with the aim of expanding and diversifying their business models.
LG CNS will oversee the implementation of DX technology in SomeraRoad and Mastern America's U.S. real estate development projects, starting with utilizing its 'Cityhub Building' platform to transform hotels, resorts, multi-family residential properties, and office buildings into smart buildings. 'Cityhub Building' is an integrated building management platform offering various functions like data collection, facility control, and energy management for large structures such as office buildings and factories. The platform optimizes building operations through data-driven insights and the simultaneous monitoring and management of multiple buildings across different locations and time zones. One of its standout features is its ability to centralize the management of various equipment and systems in different buildings globally.
LG CNS provides DX services for employees, visitors, and managers of smart buildings. This includes blockchain technology that can be used to create mobile access cards or digital employee IDs, replacing traditional plastic cards for a more convenient way to verify someone's identity and grant access to offices, meeting rooms, and amenities via smartphone. Users can also enjoy greater convenience by making payments at restaurants and cafes, accessing photocopiers, and boarding commuter buses seamlessly. The mobile access cards/employee IDs are equipped with blockchain-based Decentralized ID (DID) technology to ensure secure mobile identity and credential authentication, safeguarding personal privacy and preventing hacking or data leaks.
LG CNS also provides a Content Management System (CMS) for digital media that enables the simultaneous delivery and management of various types of signage in large buildings. This innovative system lets smart building users tailor their digital content to their unique space and can even deliver important information in emergencies.
LG CNS will further introduce smart poles as well that collect city data in outdoor areas to support the development of smart cities. These advanced streetlights leverage AI-powered CCTV and IoT sensors to accurately monitor vehicle flow and pedestrian count, enabling more effective traffic management. They can also track environmental factors like air pollution, temperature, and humidity in real-time, helping cities better manage urban conditions.
"With demand for smart buildings in the U.S. on the rise, we plan to expand our smart building DX business nationwide, starting in Kansas City and Nashville, and extending to New York and other locations," said Moon Keun Choi, Senior Vice President at LG CNS. "We also aim to broaden our efforts to include smart cities as another way of delivering even greater value to our clients across the U.S."
※Terms
1) Alternative Investments: Investments in assets like real estate, jewelry, and art as opposed to more traditional investments such as stocks, bonds, and cash.
About LG CNS
LG CNS is a leading Korean digital transformation (DX) company that continues to pioneer various emerging technologies such as the cloud, generative AI, big data, smart factory, smart city, smart logistics and digital marketing. The company is also leading the market through innovative system integration (SI) and system management (SM) projects in finance, manufacturing, the public sector and various other industries. For more information, please visit www.lgcns.com.
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LG CNS to Launch Smart Building DX Business in the U.S.
