Samsung SDS invests in Vietnam CMC and plans to enter Southeast Asian market

Samsung SDS, a South Korean IT service company, has invested in CMC, a Vietnamese IT service company. Samsung SDS announced on the 27th that it has reached an agreement to participate in major decision-making through equity investment in CMC.

According to the Korean media Culture Daily, the two companies signed a joint business contract for smart factories and network security in June last year, and will establish a deeper partnership through this investment. Samsung SDS plans to share business strategies and future plans with CMC through strategic investment and grow together.

CMC Group is one of the major technology groups in Vietnam, with about 3,000 employees. Its main businesses include system integration, software development, cloud services, and IT infrastructure operations. Samsung SDS aims to achieve $1 billion in revenue, and the investment will continue until 2023. Samsung SDS will combine its own cutting-edge technologies such as artificial intelligence (AI), big data analysis, and the Internet of Things (IoT) with CMC's business locations and reputation to actively attack Vietnam, an emerging manufacturing powerhouse, and look forward to creating mutual benefits in the fields of smart factories, cloud services, and network security.

The Cultural Daily pointed out that Samsung SDS plans to use CMC's excellent technical talents to improve its business competitiveness and enter the Southeast Asian market. Samsung SDS representative Hong Won-pyo said that through this investment, it will not only ensure a strategic partner in Vietnam and Southeast Asia, but will also work closely with the CMC management team in the future to combine the strengths of both parties to support the digital transformation of global customers.

CMC representative Nguyen Trong-kui also said: "In addition to cooperating with AT&T, Oracle, SAP and Microsoft, CMC has also become a solid partner with Samsung SDS. The cooperation between the two companies will go beyond South Korea and Vietnam and contribute to the digital economy market in Asia and the world."