IBM says goodbye to hardware business and hello to software
Published: 07 Feb. 2023, 18:51
For IBM, 2022 was "a pivoting year" in its transformation toward software business, says CEO of the company's Korean office.
"Many people still think of IBM as a computer system hardware company," said Won Sung-shik, CEO of IBM Korea.
“IBM is now a facilitator of the digital transformation, rather than a hardware-based company.”
IBM Korea held a press event on Tuesday at its office building in Yeongdeungpo District, western Seoul, to discuss its business plan for the year.
Won said that last year the company saw 11 percent on-year growth in its hybrid cloud sales to $22.4 billion worldwide, which accounts for more than 70 percent of IBM’s global revenue.
"I believe that the changes IBM went through over the past two years were the most dramatic in its 112 years of history," said Won, emphasizing that “IBM’s growth strategy is to become the market leader in the hybrid cloud and artificial intelligence."
"Many companies are speeding up and achieving transitions to cloud-based systems, and we estimate that about 30 to 40 percent of the total workload is operated on the cloud environment."
During the Tuesday event, Lee Ji-eun, IBM Korea’s chief technology officer, cited data security as one of the main areas of focus for this year’s business trend.
According to Lee, Korean companies suffered an average of 4.3 billion won ($3.4 million) in damage caused by data leakage.
“If a company successfully reacts against cyber security attacks, it will lead to improved resiliency of the company, and therefore result in business growth,” said Lee.
BY SHIN HA-NEE [shin.hanee@joongang.co.kr]
with the Korea JoongAng Daily
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