End of the photo. Etech System, a holding company of the Etherverse Group, announced on the 27th that it has recruited a cloud executive from a global big tech background. Lee Myung-woo, who has experience at Cisco, AMD, and Samsung Electronics, has been appointed as the head of the cloud business at Etech System, with a plan to more than triple the group’s overall cloud business within three years.
Lee has accumulated expertise in various roles in the IT industry over 30 years at leading domestic and international companies, including product development, sales, and partnership alliances. He aims to significantly expand alliances with global companies and major domestic customers based on his sales leadership experience at Cisco Korea, where he worked for about 14 years. He also has experience in server and software development at Korean companies like Samsung Electronics. At the U.S. semiconductor company AMD, he contributed to building a partner ecosystem in the data center sales role.
As the head of the cloud business at Etech System, Lee envisions growing the division by more than three times within three years. The goal is to expand the current 40 billion won cloud business into a trillion-won business by strengthening capabilities in hybrid cloud, utilizing both on-premises and public cloud services. The strategy and vision for Etech System’s hybrid cloud are based on synergy with the Etherverse Group, which holds the exclusive distribution rights for Amazon Web Services (AWS) in Korea, aiming to establish a stable and flexible hybrid cloud platform. By leveraging the Etherverse Group’s expertise in building on-premises IT infrastructure, they aim to be recognized in the market as a complete “hybrid cloud builder.”
Established in 2015, Etech System’s cloud business division achieved its highest revenue to date, surpassing 30 billion won last year. With consecutive growth of over 160% since 2019, revenue that was 6 billion won in 2019 has grown more than six times in just five years. The securing of cloud-dedicated personnel and self-developed solutions for differentiated services are identified as major factors for this growth. Their in-house cloud system monitoring solution, ‘Watching On,’ has been adopted by over 100 companies, supporting easy and fast cloud usage with billing automation and visualization tools like ‘Billing On’ and virtualization technology support solution ‘V Lab On.’
Lee is also actively promoting AI business beyond digital transformation (DX) to artificial intelligence transformation (AX). As part of this initiative, he is formulating aggressive investment plans for the establishment of AI-applied cloud platforms and infrastructure, as well as securing solution capabilities. Following a large-scale investment of 180 billion won from SG Private Equity (SG PE), the company is considering not only nurturing and recruiting specialized technical talent but also acquisitions for securing essential technology.
Lee Myung-woo, the vice president of Etech System, said, “The strength of Etech System’s cloud business is in providing optimized consulting for system transitions through technology-dedicated personnel who understand both on-premises and cloud systems.” He added, “Etech System will not only assist in successful cloud migration but also grow into a leading hybrid cloud company that accelerates business success by integratively building related IT infrastructure and solutions.”