LG CNS Partners with GC Green Cross Healthcare and LG Uplus for MyData Collaboration

From the left, Eunsang Kim, Vice President of LG CNS; Hyojo Ahn, CEO of GC Green Cross Healthcare; Jongwook Park, Executive Director of LG Uplus

LG CNS has officially launched its MyData platform business.

On September 30, LG CNS announced that it had signed a memorandum of understanding (MOU) for a 'joint MyData business' with GC Green Cross Healthcare and LG Uplus.

MyData is a business that consolidates customer data scattered across financial institutions and other organizations, allowing users to view and manage their information at a glance, and provides customized services based on this data. LG CNS is preparing to move beyond 'personal asset management services' to offer B2B services in the form of platform-based 'data management' and 'data brokerage' businesses.

Through this agreement, LG CNS will collaborate with GC Green Cross Healthcare and LG Uplus to develop 'Life Managing,' a MyData integrated service in the fields of finance, healthcare, and telecommunications. Life Managing is a service that collects customers' financial, health, and telecommunications data-with customer consent-and analyzes it using artificial intelligence (AI) to provide various benefits.

The three companies will begin planning and developing the Life Managing service. As a MyData operator, LG CNS will obtain customer consent for the collection and provision of both financial and non-financial data. The company will integrate data collected on the platform, analyze it using AI technology to generate new data, and provide MyData to GC Green Cross Healthcare and LG Uplus.

GC Green Cross Healthcare will integrate 'health data' such as medical checkup information, health consultation records, and lifestyle habits into the MyData platform. LG Uplus will integrate 'telecommunications data.'

Users will be able to receive Life Managing services based on the sophisticated digital life data from all three companies and the healthcare expertise provided. Life Managing is currently being developed to be accessible via a smartphone app.

With this agreement as a starting point, LG CNS will accelerate its MyData business in areas such as travel and self-development. The company is also targeting partnerships with various enterprises involved in all aspects of customers' daily lives, including distribution, transportation, and accommodation. Efforts to form a 'Data Alliance' are also underway, and the company plans to offer integrated MyData services among member companies of the Data Alliance.

Kwanbok Lee, Head of the MyData Business Promotion Division at LG CNS, stated, "Based on our IT expertise, we will focus on information management to ensure that customers' data sovereignty is not infringed," and added, "We will continue to identify meaningful data and services so that customers can truly experience the value of MyData-based services."

This content was produced with the assistance of AI translation services.