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South Korean companies, KT and NHN, will launch their cloud computing business and aim to offer services to the public. The cloud biz will be the companies’ subsidiaries and will each be named KT Cloud and NHN Cloud.
With the new cloud business, eyes are on KT and NHN to see if they will succeed in this sector that is being dominated by Microsoft and Amazon Web Services (AWS). The companies are expanding their standings in the private and public cloud market, and it is yet to see how far they will go in this line.
Korea Economic Daily mentioned that cloud computing is the on-demand availability of computer system resources such as data storage and computing capabilities without the need to open and maintain data centers.
Now, KT Cloud and NHN Cloud are the newcomers in this business after being formally opened recently. KT Corp’s major data hubs will not be managed under the KT Cloud subsidiary, which is wholly owned by the parent company.
It was said to have a goal of attaining 2 trillion won in profits by the year 2026. Yoon Dong Sik, KT Telecom’s vice president, has been appointed as KT Cloud’s chief executive officer.
South Korea’s leading tech firm, NHN Corp., also debuted its cloud unit on the same day as KT. Similarly, the NHN Cloud is also a spin-off and wholly owned by its parent company’s existing cloud management and AI business.
It was added that NHN actually started its cloud technology biz in 2014 and at that time, it only specialized and mostly served gaming firms. For the new NHN Cloud, Kim Dong Hoon, the head of cloud business, and Paik Do Min, the company’s chief information officer, were appointed as co-CEOs.
Paik is in charge of the company’s direction and human resources management, while Kim is tasked with overseeing its business strategy. Meanwhile, ET News reported that KT Cloud will be focusing more on its 800 billion won public cloud conversion project to bolster customized services while also offering a business system that is dedicated to the public.
