[Click e-Stock] "Genian Accelerates Influx of Foreign Investors Through Global Expansion"

On April 23, Yuanta Securities reported that Genian is accelerating the influx of foreign investors, driven by steady growth and global expansion.

The foreign ownership ratio of Genian has been consistently rising. After reaching 5% in April 2021, it surpassed 10% in July 2017, 15% in May 2023, and exceeded 20% in June 2023. As of the previous day, it stood at 25.42%. Kwon Myungjun, a researcher at Yuanta Securities, explained that this increase is attributable to performance, Zero Trust (ZT), and overseas expansion.

Since its establishment in 2005, Genian has recorded steady performance growth. While its sales in 2005 were only KRW 840 million, by 2024 they had reached KRW 49.61 billion, representing a compound annual growth rate of 23.9%. Notably, from 2017 (post-listing) to 2024, sales and operating profit grew by 13.2% and 14.3%, respectively.

Kwon noted, "The main products, NAC and EDR, are driving performance growth," adding, "These products were developed and launched for the first time in Korea, securing the highest market share and the largest number of customers."

Genian is expanding its business model from a B2G focus to B2B and B2C sectors, and is expected to continue its growth momentum by benefiting from the expansion of the cloud market. In particular, the adoption of Zero Trust security technology is drawing attention.

Kwon stated, "In August 2024, Genian ZTNA (Zero Trust Network Access) 6.0 SPI obtained CC certification, and the company is working to register for public procurement in the first half of this year." He also mentioned that, after a pilot project in 2023, Genian won a Zero Trust adoption pilot project ordered by the Ministry of Science and ICT and the Korea Internet & Security Agency (KISA) in July 2024. He added, "From the second half of this year, Genian is expected to benefit from the expanding adoption of ZT in Korea."

Additionally, Genian is actively expanding its overseas presence. In August 2024, it was selected as the lead company for a national project on international cooperation and technology development in cybersecurity, and is developing a managed cybersecurity system and framework tailored to the Middle Eastern market. Based on this, the company plans to expand into the European, Middle Eastern, and African markets.

Furthermore, as part of its global growth strategy, Genian opened a global technical support center in Bengaluru, India, in March 2025. Kwon commented, "This will serve as a bridgehead for entering the Indian security market and as a technical support hub for the Middle East, Europe, and Africa." He also projected, "As a global top-tier NAC company, Genian is expected to see continued growth in overseas sales."