By Yoon Sung-won

Amazon Web Service (AWS), the world’s leading cloud service provider, showed confidence that Korea’s conservative public organizations and financial institutions will adopt its cloud service.

“It is quite possible that the nation’s public organizations and financial institutions will introduce AWS cloud services once we can handle their issues related to regulations and compliances,” AWS Korea’s managing director Doug Yeum said during a press conference in Seoul, Monday.

“I think financial institutions can immediately use our cloud service for information not related to important customer information. The market is expected to gradually move to the public cloud service. ”

The law, which encourages the public sector to use the same cloud services as private companies, is scheduled to take effect in September Public organizations and financial institutions have been lukewarm to the idea of introducing cloud services so far due to concerns over security and have insisted on hardware-based on-premise service systems.

AWS also said it is in talks with several Korean conglomerates other than Samsung Electronics for possible heavy deals. The company has maintained a strong long-term partnership with Samsung, he said.

“We already have several big partnerships with conglomerates here like Samsung. Our partnership with Samsung is mature because it has used our service for a long time,” Yeum said. “We will have much to do with local companies to build such a strong partnership and we have seen several Korean companies who have shown possibility to do so. ”

AWS has been established as an affiliate to one of the world’s leading e-commerce provider in March 2006. The company has grown to become the largest public cloud service company, followed by Google and Microsoft. Citigroup estimated that AWS will post $6. 6 billion this year Amazon has not revealed the sales of AWS separately so far

AWS has data centers in 11 regions and operates 53 content delivery network bases that service more than 1 million client enterprises that use its cloud service in over 190 countries.

In Korea, AWS has worked with conglomerates such as Samsung, LG, SK, Amore Pacific, Daum Kakao, Nexon and NCSOFT as well as many other IT startups.

In the fourth quarter of last year, its key cloud services ?virtual machine service EC2 and simple storage service S3 ?have grown by 93 percent and 102 percent year-on-year, respectively, Yeum said.

The managing director said the company has excelled other multibillion-dollar IT companies such as IBM, Oracle and HP and runs the largest data transfer capacity.

“AWS has been the fastest-growing vender with over 40 percent growth rate last year It is comparable with IBM’s minus 12 percent rate,” he said. “Gartner’s 2014 data showed that our server capacity is five times larger than the sum of other 14 competitors following us. This is because we have actively invested in this business.”

The company plans the AWS Summit Seoul 2015 on Tuesday. It is the first time for the company to hold the global marketing event in the country to introduce new solutions and products before its local partners and potential partners.

“Cloud is not a buzz word anymore. All companies must adopt cloud technology to operate an efficient and successful business,” Yeum said.

SOURCE: The Korea Times