LG CNS to Launch Smart Building DX Business in the U.S.
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~ LG CNS, a leading digital transformation (DX) company, has announced its foray into the DX technology sector for U.S. buildings through a Memorandum of Understanding (MOU) with SomeraRoad and Mastern America. The MOU signing ceremony was held at SomeraRoad's headquarters in New York City and was 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 approach to commercial real estate across various asset classes, geographies, investment products, and risk profiles. On the other hand, Mastern America has a proven track record in developing major office buildings in prominent cities like New York City's Manhattan district.

Under the MOU, the three companies will collaborate on smart real estate initiatives by incorporating DX technologies such as AI, IoT, and automation. This collaboration aims to enhance building management efficiency and improve user experiences. The focus will be on investing in and developing smart technology for SomeraRoad projects including hotels, luxury condos, multi-family residential properties within mixed-use projects in Kansas City (Missouri), Nashville (Tennessee), and other locations. They also plan to explore projects that implement DX technology in smart aviation infrastructure to expand their business models.

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LG CNS will be responsible for implementing DX technology in SomeraRoad and Mastern America's U.S. real estate development projects. They will start by utilizing their 'Cityhub Building' platform to transform hotels, resorts, multi-family residential properties, and office buildings into smart buildings. This integrated building management platform offers various functions such as data collection, facility control, and energy management for large structures like office buildings and factories. It optimizes building operations through data-driven insights and allows for simultaneous monitoring and management of multiple buildings across different locations and time zones. One of its key features is the centralization of equipment and system management for various buildings globally.

In addition to this, LG CNS will also provide 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.

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Moreover, LG CNS offers 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 allows smart building users to customize their digital content according to their unique space and can even deliver important information in emergencies.

LG CNS is also introducing smart poles that collect city data in outdoor areas to support the development of smart cities. These advanced streetlights use 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.

Moon Keun Choi, Senior Vice President at LG CNS stated that with the increasing demand for smart buildings in the U.S., they plan to expand their smart building DX business nationwide starting from Kansas City and Nashville before extending it to other locations like New York City. He also mentioned their aim to broaden their efforts by including smart cities as another way of delivering even greater value to their clients across the U.S.

The term "alternative investments" refers to investments in assets like real estate, jewelry, and art as opposed to more traditional investments such as stocks, bonds, and cash.
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