Achievement of Direct Contract at the 'CES of the Middle East' Exhibition... "Supporting Entry into Emerging Markets"

Exploring Export Cooperation Plans at ZAITEX
Ministry of Science and ICT: "Many Korean Security Companies Participated"
Over 1,000 Consultations, Achieving $5.51 Million in Consultation Amounts

At the global information and communication exhibition held in Dubai, United Arab Emirates (UAE), our security companies achieved notable success, including securing direct contracts.

Kang Do-hyun, Vice Minister of Science and ICT Photo by Yonhap News

The Ministry of Science and ICT announced that, in collaboration with the Korea Internet & Security Agency (KISA) and the Korea Information Security Industry Association (KISIA), a number of domestic security companies participated in the Dubai 'GITEX 2024' exhibition as part of the public-private joint Middle East digital export pioneering group activities.

GITEX is one of the world's largest information and communication exhibitions, often referred to as the Middle East's version of the International Consumer Electronics Show (CES). This year, over 6,700 tech companies from 180 countries participated.

The exhibition, held over five days from the 14th to the 18th, saw the participation of 12 domestic security companies aiming to link the recent friendly cooperation atmosphere between the Middle East and Korea to export opportunities. Kang Do-hyun, the 2nd Vice Minister of the Ministry of Science and ICT, visited the exhibition site to support the participating companies and met with UAE government officials to discuss various cooperation measures.

The participating companies included Ginience, Xgate, MonitorLab, GiwonTech, NaonWorks, BTCQ, Susan INT, CTI Lab, IYEL, EasyCerti, K-IOT, and Penta Security.

The companies achieved tangible results such as one direct contract (contract amount undisclosed), approximately 1,000 consultations, consultation amounts totaling 5.51 million USD, signing agreements and partnerships with numerous Middle Eastern government agencies, state-owned enterprises, and private buyers, as well as securing proof of concept (POC) opportunities. Since these achievements lay the foundation for actual exports in the future, the Ministry of Science and ICT plans to ensure thorough follow-up support after the exhibition.

Many Middle Eastern countries, including the UAE, maintain close cooperative ties with Korea through high-level diplomacy, and there is a high level of trust in Korea’s information security industry. Additionally, the Middle Eastern security market is expanding at an annual rate of over 10%, making it a region with high potential to grow into a major market.

The Ministry of Science and ICT has designated the Middle Eastern security market as an emerging strategic market for Korean companies through the 'Global Competitiveness Strategy for the Information Security Industry' announced last year, and is supporting local market analysis and overseas expansion of companies through the Middle East information security hub in Riyadh, Saudi Arabia.

Vice Minister Kang stated, "Through GITEX, our companies were able to meet partners from not only the UAE but also neighboring Middle Eastern countries in one place. Since demand for domestic security companies is increasing based on the recent friendly culture in the Middle East, we will actively support our companies to vigorously enter the emerging Middle Eastern market in the future."

This content was produced with the assistance of AI translation services.