FPT Strengthens South Korea Footprint with Strategic Partnership and Investment in Blueward

HANOI, Vietnam--(BUSINESS WIRE)--Global IT corporation FPT and Blueward, formerly ISTN and South Korea’s leading independent SAP consulting and IT services firm, specializing in SAP ERP, announced the signing of a Strategic Investment Agreement and a Master Service Agreement. Through its subsidiary in South Korea, FPT will make a strategic investment to secure up to a 10% equity stake in Blueward. The investment is planned to be completed before Blueward’s IPO in 2028. Both sides aim to strengthen SAP ERP delivery capabilities, deepen consulting expertise, and enhance competitiveness in the Korean enterprise market.

FPT and Blueward will leverage complementary strengths to support large-scale digital transformation programs for South Korea’s leading enterprises. Blueward will contribute deep SAP ERP consulting expertise, established client relationships, and extensive knowledge of the enterprise landscape, while FPT will augment this foundation with nearly 2,000 SAP experts and extensive international experience leading large-scale digital and business transformation initiatives. Together, they will implement co-selling and co-delivery models designed to accelerate execution, optimize costs and enhance service quality for enterprise customers.

The partnership will enable FPT to expand its strategic SAP ERP projects and services across consulting, S/4HANA implementation, SAP BTP extensions, SAP AI use cases, and application management. Beyond SAP ERP, the collaboration will extend into finance and capital markets, leveraging Blueward’s financial consulting expertise and FPT’s capabilities in data, AI, and cloud to deliver integrated solutions for brokerage operations, clearing and settlement, risk management, market surveillance, IFRS reporting, and SAP FI/CO integration.

“Across South Korea and the broader APAC region, demand for integrated SAP solutions continues to rise, especially as more companies accelerate their migration to the next-generation ERP platform, SAP S/4HANA. Leveraging Blueward’s deep local expertise and FPT’s global capabilities in SAP and large-scale digital transformation, we can accompany enterprises in building more agile, intelligent, and competitive operations for the future,” said Nguyen Khai Hoan, FPT Software Senior Executive Vice President, FPT Corporation.

Blueward CEO Kim Jong-do stated: "This investment will provide optimal cost efficiency and trust to our customers, while also marking a significant milestone in Blueward’s leap forward as an AI and cloud-native company. Combining FPT's global resources with our on-site expertise, we will innovate the development paradigm and demonstrate our strong commitment to supporting our customers to secure a competitive edge in the new digital environment."

With over two decades of partnership with SAP, FPT has become a key Regional Strategic Partner in APJ, recognized for its excellence in digital transformation and regional delivery. In South Korea, FPT has built a strong presence over nearly a decade, delivering end-to-end SAP business services including SAP Cloud Transformation, SAP AI and ERP offerings through a workforce of more than 300 local professionals and over 2,500 offshore engineers.

About FPT

FPT Corporation (FPT) is a globally leading technology and IT services provider headquartered in Vietnam and operates in three core sectors: Technology, Telecommunications, and Education. Over more than three decades, FPT has consistently delivered impactful solutions to millions of individuals and tens of thousands of organizations worldwide. As an AI-first company, FPT is committed to elevating Vietnam’s position on the global tech map and delivering world-class AI-enabled solutions for global enterprises. FPT focuses on three critical transformations: Digital Transformation, Intelligence Transformation, and Green Transformation. In 2024, FPT reported a total revenue of USD 2.47 billion and a workforce of over 54,000 employees across its core businesses. For more information about FPT's global IT services, please visit https://fptsoftware.com.

About Blueward

Blueward, formerly ISTN, is South Korea’s leading independent SAP consulting and IT services company, delivering end-to-end SAP ERP capabilities across consulting, implementation, cloud transformation, solution delivery, and application management. With more than 15 years of continuous growth, the company combines deep SAP expertise with advanced cloud and AI capabilities to support digital transformation for major enterprises. Blueward also operates a dedicated financial and capital-markets technology division, providing digital finance solutions such as STO and ATS, along with specialized financial IT consulting services. The company continues to expand its vision as an AI- and cloud-native enterprise, offering SAP-linked solutions, AI-driven platforms, and integrated digital transformation services that help customers build intelligent, resilient, and future-ready operations.