AI-Driven $244 Billion Cybersecurity Market... Korean Companies Set Their Sights on Global Expansion

Targeting the Expanding Security Market Driven by AI Development
Cybersecurity Companies Venturing Abroad

As the demand for global cybersecurity rises due to the proliferation of artificial intelligence (AI), domestic companies are aggressively moving to expand exports and break out of the limitations of the local market.

On April 1, AhnLab announced that it had achieved success in expanding export channels for its integrated security platform at the world's largest cybersecurity event, "RSA Conference 2026," held last month in San Francisco, United States. The company highlighted its main products, including "AhnLab XDR," "AhnLab CPS PLUS," and "AhnLab TIP," which are AI-based cybersecurity platforms providing integrated security solutions. An AhnLab representative stated, "We have confirmed ongoing technical inquiries regarding 'AhnLab XDR' mainly from public institutions and enterprises in North America, and we have also identified demand from companies in North, Central, and South America, as well as Europe, in line with the global trend of strengthening operational technology (OT) security regulations." The representative added, "As part of our mid- to long-term growth strategy, we are expanding our business into the global market."

Last week, IGLOO Corporation announced its entry into the Vietnamese cybersecurity market by signing a memorandum of understanding (MOU) with Vietnamese cybersecurity specialist "CMC Cyber Security." IGLOO Corporation plans to actively leverage the references and customers in the financial sector possessed by its local partner. Vietnam has recently been strengthening its security sector, as demonstrated by hosting a cybersecurity steering committee meeting and deciding to expand investments in cybersecurity. An IGLOO Corporation representative explained, "The demand for security is increasing in Southeast Asia due to a recent expansion in the scope of hacking attacks," and added, "We are strategically entering the Vietnamese market, where the Cybersecurity Law has been strengthened and government-level investments in security have grown significantly."

S2W has also recently begun a full-scale entry into the Asian market, including Japan and Taiwan, focusing on the technology and credibility of its cyber threat intelligence platform "Quasar." As the first domestic partner of INTERPOL, S2W has established a relationship of trust with the international criminal police organization from the early stages, which has served as a foundation for expanding export opportunities. The company is also increasing its enterprise clients in IT, manufacturing, and logistics by collaborating with local security company "CHT Security," which has references from public institutions such as the stock exchange and railway corporation. S2W has also signed contracts with Taiwanese container shipping company "Evergreen Marine" and IT company "ASUS." The company plans to complete the establishment of its Japanese subsidiary in the first half of the year and strengthen its business competitiveness in the Japanese market.

Expanding Security Market...Gartner Projects 13.5% Growth to $244 Billion This Year

The size of the security market is expanding in tandem with the global spread of AI. According to market research firm Gartner, the global cybersecurity market is projected to grow by 13.5% year-on-year to $244 billion (about 371 trillion won) this year.

The efforts of domestic companies to expand export channels are driven by the fact that, while the global security market is increasing in scale, the domestic market has reached its limits due to intensified competition. The domestic cybersecurity market is structured around public institutions, with multiple companies competing for limited resources. In addition, the entry of global companies such as Microsoft, Amazon, and Google has further intensified competition among companies.

Export performance by security companies has been on the rise. According to business reports filed by domestic cybersecurity companies on the Financial Supervisory Service's electronic disclosure system, AhnLab recorded export sales of 24,357 million won in the security solutions sector last year, up from 7,843 million won in 2023 and 21,759 million won in 2024. Exports accounted for 9.1% of the company's total sales. IGLOO Corporation also recorded export sales exceeding 5 billion won last year, more than four times the 1,161.89 million won recorded in 2024. S2W posted export sales of over 2 billion won last year, continuing the trend from 2024. Genian has steadily increased its export sales, reaching 1,484 million won last year, up from 954 million won in 2023. JiranSecurity also saw exports rise by about 12% to 1,543.85 million won last year.

The government also plans to actively support the export expansion efforts of domestic security companies. The Ministry of Science and ICT will create an additional cybersecurity fund worth 16 billion won over approximately 10 days starting from the 27th, to support the overseas expansion of companies possessing innovative security technologies such as AI and zero trust. The aim is to assist security companies, which are mainly small and medium-sized businesses and have difficulty securing growth capital. The main investment targets are cybersecurity companies that have undergone mergers and acquisitions (M&A) or have established subsidiaries overseas.

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