Anna Jiwon Park has been covering the politics at The Korea Times since the summer of 2024, when she joined the press pool for the Office of the President in Korea. Prior to that, she spent about five years reporting extensively on financial markets, regulatory authorities and the financial industry. She joined The Korea Times in 2019 after spending eight years as a broadcast journalist at Arirang TV, Korea’s leading global broadcaster, covering politics, defense and culture.
Woori Financial upgrades joint cloud platform to accelerate digital transformation
The signs of Woori Financial Group and Woori Bank outside of the headquarters of Woori Financial Group in central Seoul / Courtesy of Woori Financial Group
By Anna J. Park
By Anna J. Park
Woori Financial Group is emphasizing the strengthening of its cloud platform to facilitate its digital innovation, according to the financial group, Sunday.
Woori said that it is upgrading the cloud platform to manage its IT resources and data more efficiently, and better equip itself with the latest digital technologies, such as artificial intelligence, big data and blockchain
The platform, which was launched earlier this year, is jointly used by the group's various subsidiaries, and it is a “must” required for accelerating the financial companies' business development in providing IT-based services. The group plans thus to upgrade its cloud system to satisfy diverse business needs by expanding it into a hybrid system.
The driving force behind the group's focus on cloud system innovation is group Chairman Son Tae-seung.
“The group will carry out the upgrade of its cloud system in a speedy manner, in order to meet the soaring needs for the system by the group's subsidiaries, ranging from Woori Bank to Woori Card and Woori Financial Capital, as they progress with their new digital businesses,” Son said during a recent group meeting.
The group also says that the upgrade will strongly support its digital competencies, which will accelerate the effectiveness of the financial group's digital transformation in 2022.
Since it was launched in February of this year, the group's joint cloud system is estimated to have accelerated the financial group's digital innovation, as it efficiently allocates the group's IT resources and cloud space, increasing the subsidiaries' synergy in digital-based businesses.