I'm nitpicking, as your main point is still completely accurate; it is indeed miles ahead in sovereignty compared to the EU! But

> Those tend to be used by a plurality of Korean organizations within Korea.

I've seen from the inside the IT infra of several chaebol subsidiaries (of different groups), of Korean big tech, as well as Korean startups, and really only some of the chaebol subsidiaries made use of these local clouds. Near 0% for startups, low single digits for big tech (besides Naver themselves obviously) and even for the big corps I'd estimate <30%. Azure and AWS are plenty popular, as well as of course on-prem still having a much higher market share than in the West. Not sure if most big corps have a random unused database on Naver Cloud to satisfy some government statistic but talking about meaningful usage here.