[Asia Economy Reporter Hyungsoo Park] Unified security platform company Ginience announced on the 12th that it recorded a market share of 79% in the procurement market as of 2021.
Ginience has secured numerous supply experiences with central government agencies, including the Ministry of Economy and Finance, and supplies EDR to key national public institutions.
Since developing the first EDR in Korea, the cumulative number of customers exceeded 100 last year. It has the largest number of customers domestically. In the first quarter of this year, local governments will actively introduce EDR. By winning related projects, it is being recognized as taking the lead in the public market this year as well.
Customer trust has improved by stably building the EDR Big Site. As security is strengthened due to the spread of non-face-to-face remote and telecommuting caused by COVID-19, the number of companies and institutions adopting EDR is increasing.
Ginience adopted a subscription-based business model to establish a stable revenue structure for EDR. It is a pay-as-you-use service model that integrates licenses and maintenance. More than 60% of total sales are supplied through subscriptions, and it is expected to generate stable sales in the mid to long term.
Kim Junhyung, Executive Director of Ginience Endpoint Security Business Division, said, "In the first quarter of this year, we continue to supply EDR to local governments, public institutions, companies, and hospitals," adding, "Since customer satisfaction is high, we expect continuous growth."
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