From left, Shinhan DS CEO Cho Kyung-seon and Megazone Cloud CEO Lee Joo-wan

Megazone Cloud (CEO: Lee Ju-wan), a leading cloud company, announced on the 14th that it has signed a strategic alliance with Shinhan Financial Group's ICT specialist Shinhan DS (hereinafter referred to as 'Shinhan DS', CEO: Cho Kyung-seon) for the overall cloud business.

Through this agreement, Shinhan DS and Megazone Cloud will closely cooperate with each other for cloud conversion and managed service operation business for digital finance innovation, one of Shinhan Financial Group's digital transformation strategies. will cooperate The two companies emphasized the meaning that this agreement will create synergies in cloud-based digital transformation and further contribute to the promotion of digital transformation in the domestic financial sector.

Recent financial digitization is accelerating, and the number of financial institutions implementing DT (Digital Transformation) strategies based on the introduction of public cloud is significantly increasing. The two companies plan to contribute to rapid public cloud construction and conversion in line with changes in the financial market and customer demand, and cooperate to provide flexible financial services to customers and strengthen services suitable for the digital age.

Shinhan DS CEO Cho Kyung-seon said, "Shinhan DS, which has the digital technology and business know-how of Shinhan Financial Group, is expected to be able to demonstrate more expertise in the cloud business field by collaborating with Megazone Cloud, a cloud specialist." Through partnership discovery and collaboration, we will go further in discovering a cloud/data-based digital foundation and taking a leap forward in digital transformation of the financial group.” Through this agreement with Shinhan DS, Megazone Cloud will do its best to ensure that the cloud project promoted for digital financial innovation and cloud conversion of all affiliates of Shinhan Financial Group becomes a milestone in the financial cloud. We will actively utilize Megazone Cloud’s control center optimized for finance and the network and organization of 8 overseas corporations to provide stable technical support to Shinhan Financial Group’s overseas corporations and do our best at the company level to ensure the successful progress of the project.”

Megazone Cloud and its affiliates, including Megazone, achieved sales of 930 billion won in 2021 with 2,250 cloud experts, and as a result of aggregating performance in the first half of 2022 It is expected to easily achieve sales of 1.4 trillion won this year. In addition to domestic, overseas subsidiaries such as the United States, Canada, Shanghai and Beijing, Japan, Vietnam, Hong Kong and Singapore are also in operation.