The IT industry is stepping up investment in fast-growing SaaS businesses

(Image: Korea Bizwire)

SEOUL, May 10 (Korea Bizwire)Software as a service (SaaS), which accounts for the largest share of public cloud services globally, is growing at a rapid pace as South Korea’s IT industry places greater emphasis on technology.

NHN Dooray, the SaaS unit of NHN Corp., attracted a 20 billion won ($15.6 million) investment from H Private Equity last week.

H Private Equity invests intensively in projects in the SaaS, silver and hydrogen sectors. With this investment, NHN Dooray plans to strengthen its SaaS solution in the collaboration tools market.

Yanolja Cloud, a subsidiary of travel platform operator Yanolja, has invested in Indian high-end hotel solutions company Innkey Infosystems Private Ltd. subject to subsequent acquisition as part of efforts to grow its SaaS business.

With this investment, Yanolja Cloud plans to unveil new product groups by connecting Innkey’s hotel asset management system (PMS) to its channel management system, real-time reservation service and non-face-to-face kiosks. face to face.

Hancom Group, South Korea’s leading office software developer, in February signed a business agreement with Taiwan-based SaaS company Kdan Mobile Software Ltd. to establish Hancom Holdings in Singapore.

To this end, Hancom will invest a total of 30 billion won through special purpose companies (SPCs) in collaboration with financial investors.

According to a report by the National IT Industry Promotion Agency, the total revenue of the national cloud industry was estimated at around 4 trillion won in 2020.

JS Shin ([email protected])

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