The Korean government has announced a new policy to accelerate the adoption of cloud computing in the country, according to Business Korea.

Speaking at a cloud computing conference in Korea, the Ministry of Science, ICT and Future Planning have announced that it will be running a number of initiatives to increase the adoption of cloud computing from 6.4% to 13%, seemingly over the next twelve months. Over the same period, the government also plans to increase the number of Korean cloud companies from 353 to 500, as well as growing private cloud adoption in public institutions to at least 3%.

The Korean government has estimated that should the new initiatives be successful the domestic cloud market could be worth in excess of 1.1 trillion won, roughly £670 million. To support the growth of the industry, the government will also build a cloud computing support centre in Daegu City, which will provide guidance for public institutions who are making the transition.

While the government has laid bare its intentions for the industry in the country, it has not been stated how cloud computing is currently perceived by enterprise. The government has estimated that 6.4% of businesses in Korea currently utilize the cloud, whereas in the UK the figure is viewed as generally much higher. It has been estimated recently that 93% of enterprise in the UK have adopted the cloud.

In what could be seen as a move to encourage enterprise appetite for the cloud, the government has invited enterprises in need of cloud computing in various industries to join the deregulation task force currently led by IT firms in the private sector.

Alongside this announcement, the government has also prioritized the growth of SME’s through the adoption of cloud. In what appears to be a move to emulate companies such as Uber and AirBnB, Ministry of Science, ICT and Future Planning will work in collaboration with the Center for Creative Economy & Innovation to provide cloud software and infrastructure to smaller organizations who could otherwise not afford the technology.

In terms of international expansion of the Korean cloud computing industry, the government will once again provide assistance highlighting the Software-as-a-Service market. It believes the SaaS market is where the country has the greatest opportunity to compete on the international scale, as there is not an outright market leader for the moment. It also believes that the country is a good position to capitalize on the growing Infrastructure-as-a-Service market in South East Asia.

The success of all cloud initiatives could partly depend on the success of the government in engaging enterprise in the country and building the appetite for the technology, which is at a low adoption rate in comparison to other nations.