Amazon Web Services to invest $5.88B in Korea by 2027

With the investment, AWS is expected to contribute approximately 15.06 billion won to Korea's GDP and annually create 12,300 jobs for opening and maintaining data centers in Korea and in telecommunication sectors.

People walk past the Amazon Web Services logo in Las Vegas on November 30, 2017. [REUTERS/YONHAP]

Amazon Web Services (AWS), the world's largest cloud provider, will invest 7.85 trillion won ($5.88 billion) in Korean cloud infrastructure by 2027 to meet growing demands for its services in Korea.

With the investment, AWS is expected to contribute approximately 15.06 billion won to Korea's GDP and annually create 12,300 jobs for opening and maintaining data centers in Korea and in telecommunication sectors.

The cloud provider invested 2.73 trillion won in the last five years, from 2018 to 2022, and contributed 4.91 trillion won in GDP, creating 3,600 jobs annually.

"AWS has invested billions of dollars in Korea's cloud infrastructure from 2016 to support the country's digital transformation," Ham Kee-ho, Amazon Web Services Korea's managing director, said in a statement.

"We have also offered cloud computing education to more than 20,000 talents from 2017 as well. Through the 7.85 trillion-won investment until 2027, we will help propel Korea into a global digital powerhouse."

BY LEE JAE-LIM [lee.jaelim@joongang.co.kr]