Nintendo Share Sale: MUFG and Bank of Kyoto to Sell Stakes in Strategic Unwinding 
Pentagon Weighs Supply Chain Risk Designation for Anthropic Over Claude AI Use 
Coupang Reports Q4 Loss After Data Breach, Revenue Misses Estimates 
Dominican Republic Unveils Massive Rare Earth Deposits to Boost High-Tech and Energy Sectors 
BlueScope Steel Shares Drop After Rejecting Revised A$15 Billion Takeover Bid 
Trump Media Weighs Truth Social Spin-Off Amid $6B Fusion Energy Pivot 
Bank of Korea Holds Interest Rate at 2.50% as Growth Outlook Improves Amid AI Chip Boom 
USITC to Review Impact of Revoking China’s PNTR Status, Potentially Raising Tariffs on Chinese Imports 
PBOC Scraps FX Risk Reserves to Curb Rapid Yuan Appreciation 
Netflix Declines to Raise Bid for Warner Bros. Discovery Amid Competing Paramount Skydance Offer 
Trump Warns Iran as Gulf Conflict Disrupts Oil Markets and Global Trade 
Japan Nominates Reflationist Economists to BOJ Board, Signaling Policy Shift 
Toyota Plans $19 Billion Share Sale in Major Corporate Governance Reform Move 
Greg Abel’s First Berkshire Hathaway Shareholder Letter Signals Continuity, Caution, and Capital Discipline 
OpenAI Pentagon AI Contract Adds Safeguards Amid Anthropic Dispute 
Anthropic Refuses Pentagon Request to Remove AI Safeguards Amid Defense Contract Dispute 
LG CNS, an LG Corporation subsidiary that provides information technology services signed a memorandum of understanding (MOU) with Indonesia to design a smart city system for its new capital that was named Nusantara. The signing ceremony was attended by the company’s chief and head of the new capital city project, Bambang Susantono.
LG CNS will be designing the city’s urban concept through artificial intelligence (AI), the cloud, and big data. The South Korean IT giant will use these digital transformation technologies for the project with the Nusantara Capital City Authority.
The company signed the MOU with the NCCA on Monday, Nov. 14, during the B20 summit that was held in Bali, Indonesia. The Nusantara team is a government agency that was formed to lead and manage the building of the country’s new capital city located on the island of Borneo. It oversees the design, including land planning, construction of housing, and traffic signal systems.
As per Aju Business Daily, LG CNS carried out consulting to develop Nusantara's smart transportation system as well as the public version that is suitable for electric vehicles. Apparently, a new capital city is being built with the latest technologies to go along with modern inventions. This will be Indonesia’s new capital as it is relocating from Jakarta.
At any rate, LG CNS said its participation in this Indonesian project is its first contract involving a massive smart city. It mentioned that it would also join hands with its partners in Indonesia to push for another smart city pilot project in Sanur, Bali.
"Based on our digital transformation technology and smart city business capabilities, we will make a case of exporting super-large smart city business models and leap forward as a global smart city leader," Kim Young Shub, LG CNS’ chief executive officer, said in a statement on Tuesday, Nov. 15.
Meanwhile, The Korea Economic Daily reported that the Nusantara capital city is now being built in the jungle of East Kalimantan on Borneo Island. Indonesia is aiming to complete this massive smart city by the year 2045. The government invested $35 billion in the construction, which covers 2,560 square km, equivalent to four times the size of Seoul, South Korea.
