The ongoing digital transformation is having an increasing impact on the economy and society, and the current Covid-19 pandemic seems to accelerate this process. In this paper, we take a look at the implications of the digital transformation in the areas of the health care system, the working world and education in Germany and South Korea. First, we introduce the terminology and emphasize the importance of the digital transformation for the economy and society. Then the paper deals with the opportunities and challenges of the digital transformation in each area in both countries. Overall, we conclude that the opportunities of the digital transformation can only be exploited if a nation-wide, stateof-the-art digital infrastructure is in place. In the healthcare sector, there is a need for more research, but especially a shift towards higher public acceptance of digital healthcare seems necessary. In the workplace, the digital transformation leads to more telework, which needs to be accompanied by training and a legal framework. In education, the use of digital technologies in classrooms should be promoted more strongly and digital skills/digital literacy should become part of the curriculum. In addition to the numerous opportunities, both countries face several challenges that have to be overcome.