The introduction of LG CNS's No-Code platform in 2021 started to draw attention to the need for Low-Code-No-Code application development in South Korea.
This decision was made strategically following the COVID-19 pandemic due to limited manpower availability until 2020.
Since then, numerous software development companies in South Korea have incorporated this platform into their services.
A report projects that South Korean low-code app development will generate USD 2,581.6 million by 2030, with a compound annual growth rate (CAGR) of 24.9% from 2023 to 2030.
In addition, the current state of software development companies is thriving with strong support from the government.
Software development companies in South Korea are making a growing contribution, with a focus on empowering a skilled workforce for providing high quality software development services.
This gradual shift from traditional coding to low code development is also because the low code no code development requires significantly lesser manpower compared to traditional programming in developing software.
That said, let us get right into it and look at the key focus areas of low-code and no-code development to figure out what is driving their popularity.
Understanding Low-Code and No-Code Platforms
Low-Code Development:
Unlike traditional software development, low code development platforms require little programming. Low-code platforms are similar to customizing a website using pre-built templates. A software developer may change or tweak a few aspects of the website based on specific requirements.
No Code Development:
As the name itself suggests, these platforms are even simpler than low-code development platforms. A no-code platform allows users to create websites and automate business processes without writing code. No-code platforms enable non-technical users to create personalized websites. They use drag-and-drop tools, visual workflows, and pre-built features, like MS PowerPoint or Canva.
Challenges Faced by Businesses in South Korea
1. Lack of Skilled Programmers:
The availability of skilled programmers in South Korea remains a significant challenge. Despite ongoing government support, smaller software development companies continue to struggle to hire talent.
By the end of this year, it is expected that the government will have trained approximately 90,000 more people. However, the problem is still far from being solved.
2. Limiting Flexibility and Slow Response Time:
While Agile methodology is becoming more popular in South Korean software development services, the traditional approach is still used in a variety of industries. South Korea is widely recognized as an IT powerhouse, but the market's pace of digitalization is relatively slow.
South Korea currently has 97.4% internet penetration (2023). However, innovation in software development lags due to the emphasis on hardware and manufacturing over software growth.
3. Reliance on Big Tech Giants:
Another challenge that South Korea faces is its reliance on large corporations such as Samsung, LG, and others for technological innovation. Nonetheless, South Korea is focusing heavily on advancements in AI, advanced biology, and other technologies to solidify its position as a technological leader on a global scale.
How Low-code/No-code Platforms Address These Challenges?
The use of low-code and no-code app development could reduce the need for highly skilled programmers.
The popularity of low-code development has also made it possible for businesses to work with software companies to have their websites professionally designed at much lower costs.
South Korean software development companies are rapidly adopting low-code, no-code methodologies, and as a result, they are gradually shifting away from traditional software development practices.
With low code-no code adoption, South Korean SMEs and startups now can innovate, reducing reliance on large corporations for innovation.
How Coupang Exploited Low Code-No Code Platforms
Coupang, one of South Korea’s largest e-commerce companies, used low-code and no-code platforms to transform how they manage their supply chain.
They developed a tool called the SCM Workflow platform, which allowed team members to create and update workflows for tasks like inventory management and deliveries without needing to write complex code.
This user-friendly approach empowered both technical and non-technical staff to contribute effectively.
By adopting low-code and no-code tools, Coupang significantly reduced the time and effort required to build and maintain their systems.
Instead of months, they could make changes and improvements in a matter of days. This helped them streamline operations, enhance efficiency, and focus on delivering fast and reliable service to their customers. It’s a clear example of how simplifying technology can lead to real business success.
Benefits of Low-Code and No-Code Platforms
1. For Software Developers:
Low code and no code platforms have made it possible for software developers to be more productive. They could also focus on high-value tasks that would benefit a software company's software development services in general. This also enables technical and non-technical teams to collaborate and create synergies.
2. For Enterprises/Businesses:
Businesses that use low code-no code platforms not only save time but also gain an advantage in responding to market demands quickly.
The low code no code strategy may also help businesses save money because this platform significantly reduces reliance on low code developers.
Role of Software Companies in Supporting Businesses
1. Consultation:
Software companies in South Korea could help businesses streamline their needs by curating low code no code platforms based on individual requirements. Furthermore, software development firms could tailor features to match the platform's functionality.
2. Strategic Assistance:
The right software development company can help businesses scale their low-code, no-code websites or mobile applications as needed. Low-code software development companies also assist businesses in implementing appropriate website or app security protocols.
The Future of Low-Code/No-Code Development in South Korea
South Korea, a tech powerhouse, is eager to adopt low-code-no-code platforms as its primary preference. Small and medium-sized enterprises (SMEs) are gradually establishing themselves as the economic backbone of South Korea.
With the rise of low-code-no-code platforms, SMEs can now build websites and mobile applications without spending a lot of money on software development.
Large South Korean corporations are gradually transitioning to low-code-no-code platforms to improve operational and logistical efficiency.
Conclusion
In the coming years, low-code-no-code platforms have the potential to completely transform the South Korean business landscape.
Using these platforms, we can see South Korea's software democratization progress from SMEs to large South Korean tech companies.
Soon, South Korea's economy may simply transition from being hardware-driven to being software-powered due to the adoption of low code-no code platforms.
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