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S. Korea to encourage financial firms to use cloud computing services

All News 12:00 January 09, 2018

SEOUL, Jan. 9 (Yonhap) -- South Korea's financial regulator said Tuesday it will clarify some regulations for financial firms to use more cloud computing services.

Currently, financial firms can use cloud computing services on businesses that are not related to customers' information because of privacy concerns.

At the end of last year, 27 financial firms used 52 cloud services, according to the Financial Supervisory Service (FSS).

Most financial firms use cloud services for their internal management affairs and investment analysis, the FSS said in a statement.

The FSS said it will offer new guidelines this month to improve financial firms' "convenience" in using cloud services.
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