Fiber broadband and tech provider Converge ICT Solutions has signed a strategic partnership deal with South Korea’s Naver Cloud Corp to explore cloud opportunities in the Philippines.
Naver Cloud Corp is the cloud subsidiary and IT infrastructure provider of South Korean tech giant Naver Corp. Naver is the largest internet company in South Korea and one of the world’s top tech companies.
The strategic partnership will see both companies collaborate to discuss and establish potential partnerships to deliver cloud solutions to Filipino consumers, per the announcement.
Naver Cloud also plans to promote cooperation for digital transformation projects in the Philippines by using its technology capabilities related to smart cities and businesses such as large language model (LLM), sovereign cloud, WORKS, and Whale.
“The Philippines is a high-potential market for cloud and digital transformation business growth, and with the signing of the MOU, we expect to contribute to the digital transformation of the Philippines,” said Yuwon Kim, CEO of Naver Cloud.
Since launching its Cloud platform business in 2017 with 22 products, Naver Cloud said it has expanded its product portfolio to over 200 individual products, including those in IaaS, PaaS, SaaS, and hybrid cloud, and provides the same level as global hyperscale Cloud Service Provider.
Converge CEO Dennis Anthony Uy said the partnership is expected to enhance accessibility and efficiency for businesses and individuals, marking a development for the Philippines’ cloud market.
“We constantly drive innovation that will redound to the country’s technological advancement, in our mission to leave no one behind,” Uy stressed.
Converge has a fiber footprint of more than 690,000 kilometers nationwide. By end-December 2023, the company had captured more than 2.1 million subscribers in its postpaid and prepaid services.
The signing of the strategic partnership was made by Uy and Kim at the Converge headquarters in Pasig City.
The deal comes as data analytics and consulting firm GlobalData earlier said that strong cloud demand in the country will propel the cloud market to grow solidly to $2.8 billion by 2025.