April 26, 2024
Mobile & Internet
Naver to beef up cloud-computing biz
South Korea’s dominant internet portal and search engine Naver said on April 18 it aims to double revenue from its cloud-computing business by taking on Amazon and other leading service providers in the burgeoning sector.
The local market for cloud computing -- an internet-based computing service that rents data storage and computing power -- is around 2.3 trillion won ($2 billion) this year and expected to grow at a fast pace in the coming years.
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But Naver did not provide detailed figures for its cloud computing business.
In April 2017, Naver Business Platform, an affiliate, launched the Naver Cloud Platform to offer 20 basic services, including data computing and security management, for both individual users and corporate customers.
NBP has since added new services that include providing infrastructure functions relevant to computing, data security and network administration, to attract customers as cloud computing services have become core infrastructure for cutting-edge technologies.
Major players, including Amazon and Microsoft, are the front-runners in the Korean market for cloud computing services, with a whopping 80 percent share.
NBP said it also plans to launch a financial cloud computing service and open a new financial cloud zone in Yeouido, the country’s financial district in central Seoul, during the first half of the year.
By Ram Garikipati and newswires (ram@heraldcorp.com)
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