LG CNS Co., Ltd. is a South Korean technology company offering services in artificial intelligence, cloud computing and system integration.
History
LG CNS was founded in 1987 as System Technology Management (STM), a 50:50 joint venture between LG and Electronic Data Systems. In 1995, the company was renamed LG-EDS System as part of LG Group's corporate identity integration project. After LG acquired all of EDS's shares, the company changed its name to LG CNS in January 2002.[1][2]
In 2019, LG sold a 35% stake in LG CNS to Macquarie Group for 1 trillion won (US$865 million). This sale occurred amid growing criticism of South Korea's chaebols for allegedly benefiting founding families by over-relying on outsourcing contracts and directing work to subsidiaries and affiliates.[3]