Seoul: South Korea's market for cloud services has exceeded 9 trillion won (US$5.94 billion) in 2024, driven by increasing demand from the artificial intelligence (AI) industry, data revealed on Monday. The figures indicate significant growth in the sector, reflecting the country's expanding technological landscape.
According to Yonhap News Agency, the size of South Korea's cloud service market reached 9.26 trillion won in 2024, marking a 25.2 percent increase from 7.4 trillion won recorded the previous year, based on data compiled by the Ministry of Science and ICT. During this period, the number of related businesses grew by 13.5 percent to 2,712, with the workforce in the sector increasing by 8.4 percent to 33,000 workers.
The Ministry of Science and ICT has announced plans to foster the growth of the cloud computing industry in South Korea. Key initiatives include the establishment of a state-run AI data center and the introduction of a leasing program for graphics processing units (GPUs). The ministry emphasized the importance of cloud computing as a fundamental component of national AI competitiveness and expressed its commitment to supporting the market's continued expansion and adoption within the public sector.