SEOUL, Mar. 20 (Korea Bizwire) — South Korea’s major security and safety solutions providers are making inroads into the integrated security services market with enhanced Internet security solutions combined with physical security, industry sources said Tuesday.
The trend is in line with rising demand for better service and rapid growth of the information security market in Asia’s fourth-largest economy, one of the most wired nations in the world. The country has been making strides into cutting-edge fields like the Internet of Things (IOT), artificial intelligence (AI) and cloud features.
Sales of South Korea’s information and security solutions industry grew 5.1 percent to 9.5 trillion won (US$8.8 billion) last year from the previous year, with the physical security industry accounting for 6.5 trillion won or about 70 percent of the total and information security accounting for 2.4 trillion won.
The information security market grew a solid 10.3 percent on-year last year compared with physical security, which rose 3.2 percent, according to figures provided by the Korea Information Security Industry Association (KISIA).
S1 Corp., South Korea’s leading security solutions provider, said it has introduced “Creative Leading Enterprise Solution” (CLES) for face recognition with the help of deep learning technology and “Smart City” solutions that provide intelligent screen monitoring and traffic information.
S1, which in 2016 made a strategic investment in ID Quantique SA (IDQ), the world leader in quantum cryptography and quantum random number generation, is also seeking to acquire ADT CAPS, South Korea’s second-biggest physical security company, a source said.
ADT CAPS has been providing IoT-based solutions in cooperation with LG Uplus, a major South Korean mobile carrier, since 2014.
KT Telecop, the country’s No. 3 security company, has also introduced security solutions based on IoT and cloud features.