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 (firstname.lastname@example.org)