Growin into a Leading Provider of Application Security Solutions in Korea

https://korean-electronics.com//inquiry

[INQ. NO. 1704E22] The following script is a personal interview with Monitorapp’s CEO Lee Kwanghoo, outlining the growth process of the company and the factors behind the steady growth of the company.

Please tell us about your company and what drives the growth of your business

Monitorapp is an application security solution provider. The name of our company came from the words ‘monitor’ and ‘app’ − meaning that we will closely monitor and protect your applications. When I heard that Israel, a relatively smaller country, was leading the world’s security solution market, I wanted to found a company that plays an important role in the security solution market in Korea. We strive to become a leading provider of integrated security solutions for key corporate applications that require strong security in place.

Tell us about your key solutions

We have seven solution lines including Application Insight Web Application Firewall (AIWAF), Application Insight Database Firewall (DB AIDFW), Application Insight VoIP Firewall (AIVFW), and Application Insight Secure Web Gateway (AISWG) designed to block harmful websites. We are about to launch Application Insight Advanced Threat Protection (AIATP) designed to protect applications from Attack Persistent Threat (APT).
Our products are proxy-based solutions that allow speedy and secure traffic shift. With our patented transparent proxy technology, solutions can be deployed without assigning separate IPs. In short, it is quick with monitoring traffic to block malicious codes, thereby not interfering with the speed of the existing service.

Tell us about your major export markets and emerging markets

We mainly export to Southeast Asian countries, particularly to Thailand. Recently, we have signed a contract with a Vietnamese government agency. We are planning to continue expanding our markets using these experiences of working with governments as a reference.
Moreover, we opened an office in Japan in 2016 to be more aggressive in sales in the Japanese market since the Japanese security market is significantly larger than the Korean market. In February this year, Monitorapp signed an ODM contract with Artiza Networks, a Japanese network and communication equipment developer. One of our products Application Insight SSL Visibility Appliance (AISVA) is a big hit in Japan because HTTPS communication is more popular there than in Korea.

Please share your business philosophy with us

Israel, a relatively small country, which is leading the world’s information security market, inspired me to establish Monitorapp, a small company with such powerful technology. With continuous investments in R&D, Monitorapp has developed leading technology in the information security market. We are planning to continue developing new technology needed by the market and to lead through close cooperation between the business department and research center. We hope that one day people worldwide will say “Monitorapp” when they think of information security.

What is your future vision? Do you have any comments for buyers and customers overseas?

Last year we launched Application Insight ON CLOUD (AIONCLOUD), a cloud-based web fi rewall service. With this solution, we are aiming to increase our international business. Apart from the Southeast Asian market, we are planning to expand our business to Japan, the Middle East, and the USA.
We are currently focusing on overseas business advancement, especially in Japan, because the Korean security market today is very saturated.
Apart from Southeast Asian countries where we are gradually expanding, we are also interested in discovering new markets in India and the Middle East.

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