South Korea: Naver Cloud’s global growth accelerates due to pandemic

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(The Korea Herald)

The COVID-19 pandemic has thwarted many businesses, but for some, it acted as a stressor for growth.

On the back of increased contactless working, Naver’s Cloud service experienced a 41.4 percent on-year revenue growth in 2020 at 273.7 billion won ($245.3 million).

Naver Cloud currently offers the biggest portfolio of cloud services within Korea at a total of 173 products in 16 categories. It operates a separate cloud system for financial businesses like banks and for public institutions that require a notch higher vigilance and security.

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