Oracle Korea on Thursday announced its second cloud infrastructure will launch by the end of May in Chuncheon, Gangwon Province.

With access to two cloud infrastructures here, the company will be able to better handle demanding workloads from customers. The company said its dual-region strategy would enhance disaster recovery capabilities.

It considers South Korea as a market with great potential, explained Oracle Korea CEO Tom Song during a press conference held on Thursday at its headquarters in Gangnam-gu, Seoul.

“I think the Korean market can grow rapidly with a certain momentum,” Song said. The growth rate could be higher than that mentioned in the market research conducted by the National IT Industry Promotion Agency.”

According to a 2019 research conducted by the NIPA, the cloud market in Korea is expected to mark compound annual growth rate of 14.8 percent between 2018-2021, with the market size reaching 1.44 trillion won ($1.1 billion)

The latest installation of Oracle’s cloud infrastructure is part of the company global on-going expansion plan, through which the company pledged to globally operate 36 cloud facilities by 2020.

By Shim Woo-hyun (ws@heraldcorp.com)