SEOUL, SOUTH KOREA
31 March 2015 – 10:00am
With its new database management system (DBMS) called Tibero 6, TmaxSoft (kr.tmaxsoft.com) is competing with the Oracle Corporation, the world’s largest computer technology corporation, in the domestic DBMS market.
The company recently held a product demonstration, displaying its selection of big data products including real-time data integration solutions, along with the Tibero 6.
The DBMS is software that finds a desired user’s data quickly from the database, and manages the change of data added or deleted.
Tibero 6 has been selected as the standard DBMS by Hyundai-Kia Motors. Also, TmaxSoft won large-scale database projects, including the next generation meter data management system (MDMS) project from Korea Electric Power Corporation (KEPCO).
The company is increasing market share through about 1,100 customer cases and 160 foreign database conversion cases.
According to the Korea Database Agency, domestic DBMS products accounted for a 7.9 percent share of the domestic market in 2013. However, the figure increased to 9.6 percent last year. Due to increasing maintenance costs from the monopoly of Oracle, the diversified demand for DBMSs is increasing as well.
TmaxSoft President Chang In-soo said, “Tibero 6 has been created targeting the Oracle. As the product is getting through the core business, the competition will be heat up further. By strengthening the connection with domestic software companies and establishing a sound ecosystem, we will increase our market share in the global market by more than 10 percent.”
TmaxSoft is planning to not only tap into the core business solution market, including the accounts system in non-monetary institutions, but also increase the number of foreign branches from the current seven to 30, accelerating overseas market expansion.