‘Public cloud will raise Korea’s GDP by $45 bil.’
Google is bolstering its efforts to improve its market share in Korean cloud computing as the U.S. tech giant has been increasing its investments here, with its Seoul data center region to be established in early 2020, Lee Ji-young, head of Google Cloud Korea, said Wednesday.
The company hosted its annual Google Cloud Summit conference in Seoul to share the latest trends in cloud computing and introduce updates for its cloud service.
Declaring that the company has secured major conglomerates here such as Samsung Electronics, LG Electronics, SK Telecom and Korean Air as customers, Lee said Google expects more companies will adopt its cloud service once its cloud region — a set of data centers — will open in Seoul next year.
“Korea is one of the most important markets for us. We will open our cloud region in early 2020. With the opening of the region, we expect there will be more opportunities for us to meet with more customers,” Lee told reporters.
The company conducted market analysis with Boston Consulting Group to see how the public cloud computing service will affect in six Asia Pacific countries including Australia, India, Indonesia, Japan, Singapore and Korea.
Ko Dong-hyun, a consultant at Boston Consulting Group, said the adoption of the cloud computing service is expected to contribute about $450 billion to GDP across the six countries between 2019 and 2023, of which $45 billion GDP growth is expected in Korea.