SK Infosec, the cyber security unit of South Korea’s SK Group, vowed to expand its business footprint beyond home market to Asian and North American countries with upgraded security technologies incorporating the Internet of Things (IoT).

SK Infosec president Ahn Hee-chul told reporters on Tuesday that the company will broaden its cyber security product lineups backed by the IoT technologies and cloud systems under the concept of digital security beyond information security.

“To date, the damage from cyber hacking has been limited to privacy infringement and data theft, but it could stretch to a shutdown of a smart factory system or home camera hacking in the future and we will take a preemptive move to prevent them,” said Ahn.

Citing the saturated local cyber security market with limited growth potential, the company will actively seek opportunities abroad with its advanced digital security products, Ahn pledged.

SK Infosec recently joined the Cyber Threat Alliance (CTA), an independent, not-for-profit industry association that has McAfee, Palo Alto Networks, Symantec and other global leaders in the cyber security industry as its members. The Korean company’s entry into the CTA as the first member based in Asia proves its capability to compete in the global arena, Ahn added.

The company is now in talks with a Japanese data center service provider and a Chinese large telecom company for business cooperation, its president confirmed. It aims to generate 500 billion won ($435.5 million) in sales within five years, 2.5 times higher than in 2016.

By Oh Chan-jong

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