LG CNS-Igluscurity 'Join Hands'... Strengthening Smart Factory Security Business

Hyun Shin-gyun, Vice President of LG CNS DTI Division (left), and Lee Deuk-chun, CEO of Igloo Security

[Asia Economy Reporter Buaeri] LG CNS announced on the 22nd that it is strengthening its smart factory security business by partnering with Igloo Security.

LG CNS signed a Memorandum of Understanding (MOU) for security business cooperation with Igloo Security. The two companies plan to jointly promote smart factory security projects, exchange specialized personnel, and conduct joint security marketing.

The collaboration between the two companies is due to the market's growth potential. According to global market research firm MarketsandMarkets, the domestic smart factory market size is expected to reach $15.3 billion (approximately 17 trillion KRW) by 2024.

Smart factories utilize Operational Technology (OT). Customers monitor production processes through OT and remotely issue commands to production lines. Because of this, the importance of security has increased. Hackers can disable smart factories using ransomware. Affected companies cannot restart production lines as smart factory system files become encrypted. When production lines stop, the financial losses for companies accumulate over time.

Since 2018, LG CNS has been managing security operations for over 40 smart factories of LG affiliates domestically and internationally and possesses 26 smart factory security solutions. Igloo Security is an information security specialist company with smart factory security solutions that monitor, analyze, and respond to external intrusions in real time. For example, various brands of production equipment are installed together in a customer's smart factory. Each brand's production equipment has different data standards, making interoperability difficult. Igloo Security integrates and manages data from each company using specialized technology.

The two companies will also collaborate on smart city security services in the future. Industrial Control Systems (ICS) are applied in smart cities. ICS can open dam sluice gates or monitor power efficiency at power plants. Since ICS is technically similar to smart factory OT, smart factory security technology will be applied.

Hyun Shinkyun, Vice President of LG CNS DTI Business Division, said, "In the hyper-connected era, establishing a security strategy is an indispensable core element for corporate survival," adding, "We will closely collaborate with Igloo Security, a specialized security solution company, to provide security services that customers can trust."

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