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Industry Landscape
The cloud computing industry is experiencing robust growth, driven by digital transformation, remote work trends, and the increasing adoption of AI/ML. Hybrid and multi-cloud strategies are becoming prevalent. Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) continue to be key segments, with a growing focus on cost optimization, security, and edge computing. The market remains highly competitive with established giants and emerging specialized providers.
Total Assets Under Management (AUM)
Cloud Computing Market Size in South Korea
~Approximately 5.2 billion USD (2023 estimate)
(15-20% CAGR)
Growth driven by increased enterprise adoption. Strong demand for IaaS and PaaS solutions. Expansion in public and hybrid cloud services.
Total Addressable Market
5.2 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Edge Computing
Edge computing brings computation and data storage closer to the sources of data, reducing latency and bandwidth usage, especially critical for real-time applications and IoT devices.
AI-Ops
AI-Ops leverages artificial intelligence and machine learning to automate IT operations, including monitoring, incident management, and performance optimization, enhancing efficiency and reliability.
Serverless Computing
Serverless computing allows developers to build and run applications without managing servers, abstracting infrastructure concerns and enabling highly scalable, event-driven architectures.
Impactful Policy Frameworks
Personal Information Protection Act (PIPA) 2011 (amended 2020)
South Korea's Personal Information Protection Act (PIPA) regulates the collection, use, and protection of personal data by public and private organizations, with significant amendments in 2020 to strengthen data portability, accountability, and consent requirements.
This policy mandates stricter data handling practices for Damon's, requiring robust data protection measures and transparent consent mechanisms for any personal data processed within their cloud infrastructure services.
Act on Promotion of Information and Communications Network Utilization and Information Protection (ICT Network Act) 2001 (amended 2021)
The ICT Network Act governs various aspects of information and communication networks, including online content, electronic commerce, and cybersecurity, with recent amendments focusing on strengthening network security and preventing illegal content.
This policy necessitates Damon's to ensure high levels of network security and implement measures to prevent data breaches and misuse within their cloud deployment services.
Electronic Financial Transactions Act (EFTA) 2006 (amended 2020)
The Electronic Financial Transactions Act regulates electronic financial transactions, setting standards for security, consumer protection, and data handling in the financial sector, with amendments in 2020 to adapt to new fintech services.
If Damon's serves financial sector clients, this policy imposes stringent security and compliance requirements for their cloud infrastructure to handle sensitive financial data and transactions.
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