Seoul: LG CNS Co., an information technology (IT) service provider, has received preliminary approval for its stock market debut, with the listing expected to occur in the first half of the year. The company, a subsidiary of South Korea's fourth-largest conglomerate, LG Group, had initially planned for an initial public offering (IPO) in 2022 but postponed its market debut due to the uncertainties caused by the coronavirus pandemic. According to Yonhap News Agency, LG CNS was established in 1987 and remains the only unlisted major IT service company in South Korea, which is Asia's fourth-largest economy. The company is 49.95 percent owned by LG affiliates. LG CNS has shown significant financial growth, with its sales reaching a record 5.1 trillion won (approximately US$3.64 billion) last year, increasing from 4.59 trillion won in 2022 and 3.83 trillion won in 2021. In terms of operating income, LG CNS reported 373 billion won last year, an increase from 317 billion won in 2022 and 275 billion won in 2021. M arket experts predict that the company's market capitalization will be around 7 trillion won, reflecting its strong financial performance and anticipated success in the stock market.