KT to Invest 500 Bil. Won to Offer 5G-based Cloud Services

KT Corp. will tap into the domestic financial and public market with a cloud computing service that combines 5G mobile communication. KT put forward its strategy for the domestic market at a meeting with reporters at KT Square in Gwanghwamun, Seoul on June 18.

"We will increase our sales in the cloud business five-fold to 1 trillion won in the next five years," said Shin Soo-jung, vice president of the IT Planning Office at KT. KT plans to invest 500 billion won in the cloud business and nurture 1,000 experts by 2023 in order to help the domestic public and financial sectors embrace cloud computing and attain its sales target.

KT was the first company in Korea to introduce cloud computing (G-Cloud) and financial security data center (FSDC) services. It has already secured 300 public institutions as its customers. In particular, it is focusing on public and financial sectors where cloud services have been restricted as they handle sensitive information. These restrictions were eased by the government to revitalize cloud services.

KT is also expected to contribute to accelerating corporate innovation with its 5G-based cloud services. KT will offer a variety of cloud services related to smart city, smart factory, and connected cars by making the most of the merits of customized cloud services and 5G.

It will also expand 5G edge cloud services, which combine 5G and cloud services, to cover the B2B market. KT set up 5G edge communication centers in eight locations nationwide and added two IT edge bases to realize the super-connected ultra-low latency speed of 5G by reducing physical distances in data processing. Cache servers or content delivery network (CDN) servers in such places can cut latency time.