Dublin-based global information technology consulting giant Accenture is returning back to South Korea, six years after its exit from the country, through a joint venture with Korean IT service leader LG CNS for greater synergy in digital transformation and digital marketing.
According to a source with access to Accenture on Wednesday, the company is in final talks with LG CNS to enter a business venture in Korea. “Business synergy from their partnership would be great,” the source added.
An unnamed LG CNS official confirmed that the two companies are “in talks” but declined to elaborate further.
The global IT consulting giant left Korea in 2016 upon handing over its business rights to Metanet. After taking over the Korean subsidiary of Accenture, Korean IT service provider Metanet leveraged Accenture’s original manpower and knowledge for domestic businesses in Korea. The details of the contract such as the duration were not disclosed at the time.
If Accenture succeeds in returning to Korea, it is expected to provide more than its general IT consulting services.
Accenture is an IT service giant with a revenue of $50.5 billion, and its market value is one of world’s top 50, with a market capitalization of nearly $175.6 billion. For the past couple of years, Accenture has been transforming itself into a more digital transformation company (DX) company by offering cloud, smart manufacturing, digital customer experience, and digital marketing services.
Because Accenture’s newly added technologies and businesses are what LG CNS has been fostering as its core businesses, the two companies’ partnership is expected to enhance each other’s business in Korea. In particular, they are expected to create great synergy in digital marketing, using advertisement data and market trends analysis.
LG CNS recently established a Digital Customer Experience (DCX) center that analyzes and supports customer experience based on data from virtual reality (VR), augmented reality (AR), customer chatbots, online shopping malls, and company websites. Accenture’s world-class service Accenture Song also seeks to improve the digital customer experience.
By Woo Soo-min and Susan Lee
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