Japanese technology venture powerhouse Softbank has formed a partnership with a Korean telecommunications company which is looking to capitalize on the growing demand for cloud computing as well as the after-effects associated with Japan’s recent earthquake.

Softbank said it will partner with KT Corp., South Korea’s second largest mobile operator, to set up the cloud computing venture. Dubbed KTSB Data Service. KT will hold a 51% stake in KTSB while Softbank will hold the remaining 49%.

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