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Databricks Records Over 100% Annual Growth in Korea as Demand in Enterprise AI Surges

April 23, 2024
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  • Databricks hosts its flagship event, ‘Data Intelligence Day’, in Korea today, bringing together the brightest minds in data and AI from across the country
  • Korea’s leading companies and early AI adopters honored at the awards ceremony

Seoul, Korea, 23 April 2024 - Databricks, the Data and AI company, today announced it has experienced over 100% year-over-year growth for its Korean business over the last fiscal year, driven by a surge in demand for data and AI capabilities across Korean enterprises.

Globally, Databricks reached over US$1.6 billion in revenue for its fiscal year ending January 31, representing over 50% year-over-year growth, driven by rapid product innovation. Databricks also launched DBRX in March, a general-purpose large language model (LLM) that outperformed all existing open-source models on standard benchmarks at the time of its launch.

Data-forward companies are leveraging the Databricks Data Intelligence Platform to optimize business operations, drive innovation through predictive analytics and AI applications, and enhance decision-making with advanced data governance and analytics capabilities, all while ensuring cost-effectiveness and high performance across diverse workloads.

A skyline image of Seoul, South Korea.

Innovative Korean customers adopt the Databricks Data Intelligence Platform
By utilizing the Databricks Data Intelligence Platform, we have built an enterprise data platform that is able to connect and integrate a large amount of customer data, enabling thousands of users to analyze customer data simultaneously to provide AI-based products and services. Through our partnership with Databricks, we look forward to continuing our digital transformation with data and AI to bring more value to our customers” said Yong-hoon Kwak, Data Platform Shil Leader, LG Electronics.

“Shinsegae I&C entered into a strategic partnership with Databricks, with plans to expand our data analytics service business in the domestic retail sector, including Shinsegae Group. Currently, Shinsegae I&C is using the Databricks Data Intelligence Platform to carry out various projects including streamlining development and operations for Emart24's automated ordering system. With Databricks, we are able to reduce data analysis time by 90%, and shorten the time taken to meet our KPIs from 7 days to 1 day,” said Eunkyoung Kim, Head of Digital Transformation Center, Senior VP, Shinsegae I&C.

“Previously, our defense business had disjointed networks for security reasons, but the business reorganization and conversion to a private company opened up an exciting opportunity to build a cloud-based integrated data system. We compared and reviewed many data analytics platforms in the market and selected Databricks, which provides excellent services in terms of integration, scalability, data governance, and security. Databricks has helped us improve our work productivity by streamlining data collection, analysis, and visualization — creating the foundational standard for data-driven decision-making company-wide,” said Haejin Jeong, Chief Digital Transformation Officer, Hanwha Corporation.

“Korea is one of our fastest growing markets in the APJ region and we’re pleased that so many of its leading enterprises and tech-driven digital native companies have chosen Databricks to support their data and AI journey. With the country’s ambitious goals for enterprise AI adoption, we’re looking forward to enabling even more Korean customers to use AI securely, with their own private data, on our Data Intelligence Platform,” said Ed Lenta, Senior Vice President, and General Manager of APJ at Databricks.

Data Intelligence Day kicks off In Korea
Databricks hosted its Data Intelligence Day in Korea today, a flagship event that brings together the brightest minds in data and AI from across the country. Through a series of deep-dive sessions led by Databricks customers, industry leaders, technical experts, and partners, participants discovered innovative ways to unlock data insights using natural language and develop GenAI applications while maintaining data privacy and control. Leading companies including LG Electronics, Krafton, GC Company, Jeongyookgak, Hyperconnect, Shinsegae I&C, Scatter Lab, and IMWEB shared their data and AI journeys.

Databricks also recognized and celebrated outstanding data and AI teams at the second Databricks Korea Data + AI Awards 2024. Congratulations to all winners:

  • Data + AI Transformation Award celebrates the team that is delivering new use cases, innovative outcomes, and increased value while democratizing access to data and insights.
    Winner: Krafton
     
  • Data + AI Democratization Award celebrates the team that is driving the center of excellence, delivering data into the hands of empowered users across the organization — making every team a data team.
    Winner: Hanwha Corporation
     
  • Data + AI Visionary Award celebrates the forward-thinking team that is transforming their organization by turning data and AI innovations into business outcomes that inspire their industry.
    Winner: Hyperconnect
     
  • Data Intelligence Award celebrates the team that is using the power of a data intelligence platform to democratize data and AI at scale with secure access and greater transparency.
    Winner: LG Electronics

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