[Pangyo Tech] NHN to Launch Cloud Service Corporation … Eyes doubling of monthly revenue

NHN announced on the 4th of this month that it will launch an independent corporation of NHN cloud service next year.

The plan was announced at the V10 Live Cloud In-house Meeting where staff of its 20 affiliates participated in virtually. The virtual meeting event was held at the NHN’s Pangyo office, Play Museum.

NHN said its average monthly revenue of cloud service surpassed KRW 10 billion, hoping to more than double that number by the launch.

The company said currently the number of client businesses of its cloud service is 3,400 and 25 or more businesses are joining every month. As of now, the cloud service provides 182 types of solutions which is three times as much as there was in 2018.

NHN is planning to establish data centers at Gwangju, Gimhae, Suncheon and other major cities of South Korea one by one after next year.

Having already begun regional services in Japan, North America and Europe, NHN is working to expand its service to cover Vietnam and Indonesia.

Pangyo Technovalley is an innovation hub for global companies comparable to the Silicon Valley in the US, Zhongguancun in China, and STATION F in France. It is an Asia tech hub with 1,259 IT, BT, CT, and NT companies that possess innovative products and technologies. Located just south of the metropolitan area, it provides the best environment for Korean companies to do business with great transportation access and infrastructure.

Various high-tech companies are located in Pangyo Technovalley, and it is occupied by 64,000 full-time employees, many in their 20-30s. In terms of industry, the companies are engaged in information technology, contents technology, biotechnology, and nanotechnology.

With the support of innovative companies with global capabilities such as Kakao, Naver, AhnLab, Krafton, NCSoft, Nexon, and Hancom, companies in Pangyo Technovalley recorded 107 trillion won in sales last year. Investment and infrastructure growth in Pangyo is expected to continue, with the Metaverse hub entering Pangyo this year.

Source: Pangyo Techno Valley Official Newsroom