INNOAX CO.,LTD KRW 4.3 billion MG Saemaul Geumgo core banking system deal with LG CNS
IAI summary · Not investment advice
INNOAX CO.,LTD signed a KRW 4.3 billion contract with LG CNS Co., Ltd. for part of the MG Saemaul Geumgo core banking system upgrade (18.6% of recent revenue).
Contract amount
KRW 4.3 billion
18.6% of recent revenue; excluding VAT
Key facts
- Contract details
- Insurance product factory for the MG Saemaul Geumgo core banking system upgrade
- Recent revenue
- KRW 22.9 billionConsolidated, end of 2025
- % of revenue
- 18.6%
- Counterparty
- LG CNS Co., Ltd.
- Contract period
- Oct 15, 2026 – Nov 30, 2028
- Contract date
- Oct 14, 2026
- Supply region
- South Korea
- Payment terms
- Paid after final inspectionNo advance payment
Commentary
AI commentary · Not investment advice
What happened
INNOAX signed a contract with LG CNS for the MG Saemaul Geumgo core banking system upgrade. A core banking system handles deposits, loans and other transactions. INNOAX will build the insurance product factory part of the project. The contract is worth KRW 4.3 billion, excluding VAT. It runs to November 30, 2028, and payment comes after final inspection.
In the company's terms
The amount equals 18.6% of recent revenue of KRW 22.9 billion, based on end-2025 consolidated figures. The company said it has carried out similar contracts in the past three years.
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