U.S. tech giant Oracle Corp. held a large-scale cloud computing conference in Seoul on Tuesday in an effort to tap into the fast-growing South Korean market.

The annual Oracle CloudWorld gathering, the first of its kind held in the South Korean capital, brought together around 3,000 officials and experts from the IT industry who shared ideas on the cloud computing industry, the company said.

Cloud computing allows users to share conventional computer resources, including software, information and other data through remote servers.

Oracle currently has around 70 million users through its clients in its cloud computing segment around the globe.

"As South Korea's market for cloud computing is expected to rise in a full-fledged manner this year, (Oracle) plans to roll out aggressive investment," said Kim Hyoung-lae, who heads Orcale's South Korean arm.

"The country's first CloudWorld event provided an opportunity to acknowledge South Korea's high interest in the cloud industry as well as its potential," Kim added.

South Korea has been ramping up efforts to nurture the cloud computing industry since last year, with the Ministry of Science, ICT, and Future Planning rolling out a set of policy measures to catch up with other countries.

The South Korean government said it aims to foster the country's cloud computing industry to reach 2 trillion won by 2018, compared to the 500 million won posted in 2014.

Over the 2016-2018 period, the government wants to save 370 billion won in the public sector through the adoption of cloud computing. (Yonhap)