MONITORAPP participated in 'Vietnam / Malaysia Information Security Conference' hosted by MSICT (Ministry of Science and ICT) and KISIA (Korea Information Security Industry Association) from November 19th to 23rd.
15 Korean information security companies including MONITORAPP and 35 local buyers from Vietnam and Malaysia participated in this event to expand into Southeast Asian market.
There were various actovities such as 1:1 business meeting, individual consultation to visit local partners and buyers, and showcases to introduce Korean companies' products to local buyers.
In Vietnam, we consulted with 7 companies including SI and ISP companies about promoting our products.
Vietnam's information security market is growing at a fast rate of more than 10 percent annually, and new security-related laws are expected to be enacted early next year, national interest in security is raising.
This will be an opportunity for venders to export solutions.
In Vietnam, a lot of small and medium-sized ISPs are emerging, and there is also active business with communication companies.
These ISPs showed interest in our AIONCLOUD product and held additional meetings with some of them.
In Malaysia, we consulted with 8 companies including NI to find ways to cooperate.
The business expansion from physical security to information security was main trend, and we talked with 3 physical security companies. In addition, we could confirm necessary information for entering Malaysia market through talking with a local IT consulting company.
In May, Malaysia overturned the last regime in which the irregularity problem was serious. So the political and economic is instable and decisions on various projects are delayed.
Therefore, it seems possible to discuss new projects early next year when the new regime become stable
Director of Business Development Department, Seung-won Yoon said, "Vietnam and Malaysia are rapidly expanding their ICT infrastructures due to rapid economic growth, so it is expected that investment in information security will increase. It was an opportunity to accelerate ASEAN market entry."