IT Industry Beefs Up Investment in Fast-growing SaaS Business | Be Korea-savvy

IT Industry Beefs Up Investment in Fast-growing SaaS Business

(image: Korea Bizwire)

(image: Korea Bizwire)

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

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

H Private Equity is making intensive investments in SaaS, silver, and hydrogen sector projects. With this investment, NHN Dooray plans to strengthen its SaaS solution in the collaboration tool market.

Yanolja Cloud, a subsidiary of travel platform operator Yanolja, invested in India-based premium hotel solution company Innkey Infosystems Private Ltd. conditional upon a later acquisition as part of efforts to expand its SaaS business.

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

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 released by the National IT Industry Promotion Agency, the total revenue of the nation’s cloud industry was estimated at about 4 trillion won in 2020.

J. S. Shin (

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