LG CNS said on the 1st that it signed a colocation (floor space lease) service contract for the Samsong data center in Goyang with Naver Cloud. It also signed a Samsong data center consigned operation contract with Woori Bank and others.
A colocation service leases space in a data center where servers and network equipment can be installed and provides infrastructure such as power, cooling, security, and operations.
The contract amount was not disclosed, but the company said a disclosure obligation arose because it is at least 2.5% of last year's LG CNS revenue of 6.1295 trillion won. Based on that estimate, the contract amount is projected to be at least 150 billion won, the largest among data center colocation projects signed in Korea this year. It is also reported to be the largest single contract among the data center colocation projects LG CNS has pursued.
Following their colocation service contract for the Jukjeon data center last year, LG CNS and Naver Cloud expanded the scope of cooperation with this Samsong data center contract.
The Samsong data center is owned by IGIS Asset Management, and LG CNS agreed to take on DBO (design, build, operate). The contract period runs from July this year to May 2035.
On the same day, LG CNS also signed a 182 billion won Samsong data center consigned operation contract with Woori Bank and others.