SK Hynix Overtakes Samsung as South Korea’s Most Valuable Company 
SK Hynix Targets $29.4 Billion Nasdaq Listing to Expand AI Chip Business 
US-Iran De-Escalation Shifts Washington’s Focus to AI Regulation and Crypto Legislation 
Yen Near 40-Year Low as USD/JPY Approaches Key 162 Level, Raising Intervention Concerns 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Singapore Inflation Stays Muted in May as Core CPI Misses Forecasts Ahead of MAS Review 
South Korea’s KOSPI Rebounds as Samsung and SK Hynix Lead Tech Stock Recovery 
Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
Bain Capital Nears Deal for Majority Stake in Volkswagen Marine Engine Unit Everllence 
Google’s Open-Source AI Data Center Cooling Design Raises Commoditization Concerns 
KPMG Australia Chairman and Senior Partners Exit Amid Escalating Whistleblower Scandal 
U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
SK Hynix Moves Closer to New York ADR Listing Amid AI Chip Boom 
Doncasters Raises $919 Million in NYSE IPO as Aerospace Growth Accelerates 
Meta Pauses Employee Activity Tracking Program Over Data Security Concerns 
South Korea’s Ministry of Science and ICT is facing a backlash for allowing foreign tech giants Amazon and Microsoft to penetrate the country’s public sector cloud computing service market.
Domestic companies such as KT, Naver, and NHN have expressed concerns over foreign firms dominating the public cloud market since the ministry took steps to ease regulations on the security certification for cloud systems.
The ministry will revise guidelines on security certifications of cloud computing services to introduce a cloud security assurance program (CSAP) classification system.
Under the proposed guidelines, companies that do not physically separate their cloud servers for the public and private sectors, such as Amazon and Microsoft, will also be able to provide cloud computing services to the public sector, if personal information and other confidential data are not involved.
Amazon, Microsoft, and other US tech firms have not established cloud servers for the public sector, allowing KT, Naver, NHN, and other domestic cloud service providers to dominate the public cloud market here, despite the dominance of foreign companies in the private sector.
Data compiled by the Fair Trade Commission showed that AWS has grown to account for nearly a 70 percent share of Korea's cloud computing service market over the past few years, while Microsoft accounts for around 10 percent. Google and Naver have vied for third place.
According to an official of a local cloud computing company, US firms can afford to offer excessively lower prices to win in competition with Korean companies.
Most developed countries have restricted foreign companies from providing cloud computing services to the public sector.
