Increasing digitalisation of South Korea ’ s economy and a rush for the cloud is opening the door to a fundamental change in the peninsula ’ s data centre industry .
Increasing digitalisation of South Korea ’ s economy and a rush for the cloud is opening the door to a fundamental change in the peninsula ’ s data centre industry .
WRITTEN BY : HARRY MENEAR
Jay Weon Khym Country Manager Korea , Digital Realty
From an outsider ’ s perspective , South Korea ’ s economy presents itself as something of a contradiction . South Korea ’ s economy is the fourthlargest in Asia ( 10th in the world ), and in many respects ranks among the most digitally transformed markets on the planet . The first commercial 5G network was launched in Korea , the country is home to the world ’ s largest electronics manufacturer ( Samsung ), and its government is only investing further into leveraging technology as the foundation of the Korean economy for the foreseeable future .
Hard economics aside , South Korea ’ s cultural capital is on the rise as well . The country has rigorously promoted , packaged , and sold cultural assets ( from K-Dramas and fashion to BTS ) overseas , and its soft power has grown appropriately .
By all accounts , South Korea is a major economic and social player in a globalised digital world . However , for international tech firms , one of the world ’ s leading digital economies remains largely untapped and inaccessible . However , this state of affairs is starting to change .
“ The South Korean economy has long been led by a select group of conglomerates ,” explains Jay Weon Khym , Korean Country Manager at Digital Realty , referring to the large industrial conglomerates , known as “ chaebol ”, that dominate the country ’ s economy .
datacentremagazine . com 87