On September 6, CJ OliveNetworks’ IT business established a subsidiary corporation in Ho Chi Minh City, Vietnam, to support affiliates and actively pursue localization strategies.
The SW market in Vietnam, which is receiving the spotlight as “Post-China,” was valued at KRW 5.1 trillion in 2016, of which IT outsourcing accounts for KRW 3.3 trillion or about 65% of the market. In particular, Vietnam’s IT outsourcing market is expected to continue growing at a rate of 10% or higher, making it an ongoing business model for local IT companies (Source: Vietnam SW Association).
Today’s opening ceremony was attended by about 20 representatives, including the CEO of CJ OliveNetworks, Kyung-bae Lee; the representative of the regional headquarters, Boksang Jang; and representatives of major affiliates.
Located on the second floor of the CJ Building in Ho Chi Minh City, CJ OliveNetworks VINA (VINA being a syllabic abbreviation of “Vietnam”) will provide support to CJ Group’s unified IT services, such as IT operation and new infrastructure building tasks of affiliates in Vietnam, and establish IT governance, along with integrated operating systems.
Moreover, to achieve the corporate goal of GCP 2020, the subsidiary shall secure the foundation for global growth by pursuing new business projects in Vietnam on the basis of CJ OliveNetworks’ different technical expertise and business capabilities.
“Through the establishment of CJ OliveNetworks VINA, we plan to establish a cooperative relationship with our affiliates in Vietnam by responding immediately to their IT service needs and improving the quality level,” said Myeongsu Jang, President of CJ OliveNetworks’ Vietnam subsidiary.