TECH SUPPLIER Jul 2020 - Market Presentation - Doc # AP46288520

2H19 Country Report on IT Services — South Korea

By: Min KimSenior Research Manager, Smart City, IoT and Services, Sujin HurAssociate Market Analyst, Services

On-line Presentation


The IT services market in South Korea showed a 3.4% growth this cycle thanks to the emergence of numerous large-scale systems integration (SI) projects in the public and financial sectors.

The government has continued to provide policy support through the "Second Basic Plan for the Development of Cloud Computing” to promote the development and utilization of cloud computing. In addition, with the passage of the Data 3 Act, which allows important information to be utilized in the cloud, the cloud adoption environment has expanded, especially in the financial, public, and healthcare sectors.

In this cycle, numerous large-scale SI projects have emerged because of the overlapping timing of replacing aging systems in the public sector, which, in turn, serves as a driver for the growth in the project-oriented services market. The managed services market showed a downward trend in the last cycle because of fewer new IT outsourcing contracts. The support services market maintained steady growth with the expansion of the market through the introduction of software integrated with digital technology.

With the gradual adoption of public cloud practices in the country, traditional IT services vendors are increasingly collaborating with cloud managed service providers (MSPs) to leverage their expertise to create new business opportunities.


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