"Genians, Continued Stable Growth Based on NAC"

[Asia Economy Reporter Hyungsoo Park] SangSangin Securities analyzed on the 2nd that the need for advanced integrated security monitoring and solutions is increasing due to the sophistication of cyber terrorism targeting Genieons.

Genieons, a network security solution company, operates in the NAC access control solution and the EDR abnormal behavior detection and response solution businesses.

Researcher Jongwon Lee of SangSangin Securities explained, "Genieons holds a dominant market share in the domestic NAC market" and added, "It has also secured numerous customers in the EDR sector, which is the next-generation growth engine for detecting abnormal terminal behavior."

He continued, "Even when COVID-19 became widespread, the growth trend continued" and added, "Based on the stable business foundation of NAC, the main cash cow, we are adding EDR clients."

He emphasized, "With the addition of the rapidly growing new growth engine, the EDR division, continuous performance growth is expected" and stressed, "Securing clients in the financially stringent security sector and expanding the scope of EDR application could lead to growth surpassing NAC."

Researcher Lee analyzed, "Genieons participated in NH Nonghyup Bank's pilot project for a 4,500-unit scale EDR solution" and said, "With the introduction of a subscription system, the number of EDR nodes is increasing mainly in the financial sector, enabling stable growth."

Furthermore, he explained, "It has over 1,600 corporate clients including the Korea Post and Shinhan Financial Group," and added, "With telecommuting becoming widespread due to COVID-19, the importance of security systems is highlighted, creating a positive outlook."

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