[Click e-Stock] "GenieNce, Growing Importance of Cybersecurity"

On July 17, Shin Young Securities stated that GenieNce is expected to benefit from the expansion of geopolitical risks and the proliferation of generative artificial intelligence (AI).

Jung Wonseok, a researcher at Shin Young Securities, said, "Recently, there has been an increase in damage from hacking attacks targeting various companies and institutions such as SK Telecom, YES24, and SGI Seoul Guarantee," adding, "The global rise in damage caused by hacking attacks is a phenomenon resulting from the expansion of geopolitical risks."

He continued, "Cybersecurity has become a nationally significant issue," and added, "With the amendment of the Personal Information Protection Act in 2023, the scale of fines for information leaks has increased."

Additionally, he emphasized, "In May of this year, there was a case of customer attrition following an information leak incident," and "As a result, more companies are announcing increased investments in security."

Jung noted, "Recently, the Ministry of Science and ICT proposed the introduction of security solutions such as EDR and zero trust as countermeasures to prevent the recurrence of information leak incidents," and analyzed, "This could lead to increased demand for GenieNce's EDR and ZTNA products." He explained, "As AI utilization increases, hacking attacks targeting AI are also becoming more frequent," and "Strengthening security for AI networks is gradually emerging as a key issue in the AI industry."

EDR is a product that detects and responds to all abnormal signals occurring at endpoints (devices). Unlike antivirus software, which only responds to specific malicious codes stored in a database, EDR can prepare for a variety of security attacks. ZTNA is a new product that applies zero trust to network access control solutions (NAC). Zero trust is a cybersecurity model based on the principle of 'never trust, always verify,' which divides the network into small segments and controls permissions for each segment.