LG CNS launches centre in Vietnam

The centre will serve as an advanced base to help Korean security solution companies enter the Vietnamese market. Many Korean security solution companies faced challenges in expanding their operations in Vietnam due to the lack of local support personnel and differing IT infrastructure compared to Korea. LG CNS plans to foster an environment where Korean security solution companies can stably expand their businesses and compete with global security companies in Vietnam.

The company will also develop an 'integrated security services' framework that gives Vietnamese companies access to the advanced security solutions of Korean security companies. By hiring and deploying top local security experts at its Security Technical Support Centre, LG CNS aims to provide pre-technical training on security solutions alongside Korean security solution companies to ensure any security issues can be immediately addressed locally.

All in all, Korean security solution companies provide high-quality security services to corporate clients in Vietnam at a lower cost, while Vietnamese companies can quickly receive follow-up actions through the Security Technical Support Centre when issues occur. To develop this framework, the company is also collaborating with FPT Group. Back in March 2024, LG CNS signed an agreement with FPT Group to cooperate on DX business initiatives.

The company will also inform Korean security solution companies about essential legal information and regulations for operating their businesses in Vietnam, including the government's ICT laws. By working closely with Korean government agencies such as KISA (Korea Internet & Security Agency) and NIPA (National IT Industry Promotion Agency), LG CNS aims to help Korean security solution companies prepare for regulatory changes in advance, minimize business risks, and effectively enter the market.

"Through the Security Technical Support Centre, our goal is to introduce outstanding Korean security solutions to our corporate clients in Vietnam while expanding the Vietnamese cybersecurity business in partnership with Korean small- and medium-sized enterprises," said Min Bae, head of the Security & Solution Business division at LG CNS.

According to Ken Research, the Vietnamese cybersecurity market's compound annual growth rate from 2019 to 2023 was around 14.8 per cent and is expected to grow at approximately 26 per cent annually over the next five years. Vietnam's ICT industry continues to grow as one of the government's core initiatives, and the demand for security solutions is increasing, especially with the rise in cybercrime.

How companies can ramp up cybersecurity protections As Vietnam’s digital economy grows, so does the bullseye for cybercriminals. Cyberattacks - numbering approximately 13,900 - have rippled through Vietnam’s systems, seizing more than 83,000 computers and servers with encryption ransomware in the past five years.

Companies wary of cybersecurity threats Cybersecurity has gained more attention during the annual general meeting season following the surge in ransomware attacks in the first quarter of 2024.

Cybersecurity professionals key to filling gaps in cyberattack environment As cybersecurity threats rise, it will require a concentrated effort to address and narrow Vietnam's current cybersecurity talent gap.