Security Industry Expanding into Vietnam... SK Infosec Signs Platform Agreement with VinCSS

[Asia Economy Reporter Buaeri] SK Infosec is intensifying its push into the Vietnamese market.

On the 7th, SK Infosec announced that it has signed a contract to build the Secudium security monitoring platform with VinCSS, the information security subsidiary of Vingroup, Vietnam's largest company by market capitalization. Secudium is SK Infosec's cyber threat detection and analysis system. It analyzes abnormal signs detected in users' security systems to determine whether an attack is occurring and provides security functions to respond accordingly.

Last year, SK Group acquired a 6.1% stake in Vingroup's holding company for $1 billion (approximately 1.2 trillion KRW) to build ICT infrastructure and invest in new businesses in Vietnam. SK Infosec also signed a partnership agreement with VinCSS last year and has been exploring business cooperation plans.

Under this contract, SK Infosec will build the Secudium platform at VinCSS's security monitoring center. Additionally, it will transfer the technology and know-how for overall platform operations, including cyber attack detection, analysis, and response using Secudium. The two companies are also considering expanding their business in Vietnam in the future. Starting with the security monitoring business, they plan to expand their business portfolio to solution distribution and converged security fields to capture security demand within Vietnam.

Lee Yong-hwan, CEO of SK Infosec, said, "Vietnam is an attractive market with a growing economic growth rate despite the global recession caused by COVID-19. Starting with the construction of this monitoring platform, SK Infosec's security technology and VinCSS's business position will combine to lead the Vietnamese security market, and we will continue to cooperate closely."

Trac VinCSS CEO said, "With SK Infosec's help, which has 20 years of security know-how, VinCSS will be able to quickly capture the Vietnamese security monitoring market. The two companies will continuously explore strategic cooperation plans to expand their influence to the global market."