TmaxSoft bets big on cloud computing

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TmaxSoft bets big on cloud computing

Park Dae-yeon, chairman of TmaxSoft, speaks during a press conference at the Press Center in Seoul, Thursday. / Courtesy of TmaxSoft

By Baek Byung-yeul

TmaxSoft unveiled its new cloud computing services targeting the global market and announced its bid to list the shares of its affiliates on the NASDAQ by 2023, the chairman of the local IT firm said Thursday.

"We are planning to launch a cloud computing stack that combines infrastructure, a platform and app in July for the first time in the industry," Park Dae-yeon, chairman of TmaxSoft, said in a press conference at the Press Center in central Seoul.

Park said the Tmax Cloud Stack service is designed to help people develop their own applications.

"Google, Amazon and Facebook have been operating their services using their own cloud computing platforms. They invested an enormous amount of money to develop their own platforms. But using the Tmax Cloud Stack, anyone who doesn't even know much about cloud computing can produce high-quality applications," he said.

The firm will also launch CloudSpace, a tool to develop and manage cloud-based applications, and CloudOffice, a cloud-based document management service in July.

With its cloud computing services, Park said the firm will list the shares of its affiliates ― TmaxData and TmaxOS ― on the Nasdaq by 2023. He expects the new cloud computing service can help the firm post sales of 100 trillion won ($84 billion) by 2030.

"We plan to post sales of 100 trillion won by 2030 and become one of the top five cloud computing companies in the world," he said.

To develop the cloud computing services, Park said the firm invested 170 billion won, and 700 researchers out of a total of 800 took part in the development project.

Established in 1997, TmaxSoft has concentrated on middleware software products that can translate between different programs and database platforms. Park said the cloud computing business has potential to become Korea's next economic growth engine.

"Many people still think cloud computing is downloading or sharing files from a server. I think cloud computing is the strongest weapon that can take charge of the country's future," he said.


Park Dae-yeon, chairman of TmaxSoft, speaks during a press conference at the Press Center in Seoul, Thursday. / Courtesy of TmaxSoft

By Baek Byung-yeul

TmaxSoft unveiled its new cloud computing services targeting the global market and announced its bid to list the shares of its affiliates on the NASDAQ by 2023, the chairman of the local IT firm said Thursday.

"We are planning to launch a cloud computing stack that combines infrastructure, a platform and app in July for the first time in the industry," Park Dae-yeon, chairman of TmaxSoft, said in a press conference at the Press Center in central Seoul.

Park said the Tmax Cloud Stack service is designed to help people develop their own applications.

"Google, Amazon and Facebook have been operating their services using their own cloud computing platforms. They invested an enormous amount of money to develop their own platforms. But using the Tmax Cloud Stack, anyone who doesn't even know much about cloud computing can produce high-quality applications," he said.

The firm will also launch CloudSpace, a tool to develop and manage cloud-based applications, and CloudOffice, a cloud-based document management service in July.

With its cloud computing services, Park said the firm will list the shares of its affiliates ― TmaxData and TmaxOS ― on the Nasdaq by 2023. He expects the new cloud computing service can help the firm post sales of 100 trillion won ($84 billion) by 2030.

"We plan to post sales of 100 trillion won by 2030 and become one of the top five cloud computing companies in the world," he said.

To develop the cloud computing services, Park said the firm invested 170 billion won, and 700 researchers out of a total of 800 took part in the development project.

Established in 1997, TmaxSoft has concentrated on middleware software products that can translate between different programs and database platforms. Park said the cloud computing business has potential to become Korea's next economic growth engine.

"Many people still think cloud computing is downloading or sharing files from a server. I think cloud computing is the strongest weapon that can take charge of the country's future," he said.


Baek Byung-yeul baekby@koreatimes.co.kr


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