NAVER Cloud, a cloud service provider (CSP) in Korea, said it aims to become a top 3 cloud company in the Asia Pacific region.
NAVER Cloud’s revenue in 2020 grew to KRW 273.7 billion (USD 234 million). NAVER Cloud expects its annual revenue this year will reach KRW 400 billion.
“NAVER Cloud’s core value is providing services with various technologies and expertise that NAVER has accumulated by operating a range of internet services, including search engine, shopping, messenger, video, games, etc.,” said Kim Tae-Chang, NAVER Cloud’s Chief of Cloud Business.
More than 50,000 clients are using NAVER Cloud and 55 percent of Korea’s top 100 businesses are using the company’s cloud service.
NAVER Cloud said 80 percent of annual revenue will be invested back to technology development until 2023. Along with its investment in technology, NAVER Cloud is continuing its large-scale investment, such as expanding its workforce more than three times and establishing an eco-friendly data center, GAK Sejong, to build the world’s best-in-class hyperscale data center.
“We will invest up to 80 percent of annual revenue back into technology development and manpower by 2023 to secure a new growth engine,” Jang said. “NAVER Cloud has grown to become the top 2 cloud service provider in Korea and we will establish as the top 3 provider in Asia-Pacific, including Japan, expanding our business footprint in the cloud industry.”