WithNetworks (CEO In-goo Koh, Jong-eop Ahn) recorded sales of 45.8 billion won last year, a 13% increase compared to the previous year. In 2022, it plans to develop its business focusing on ‘withFLOW’, an integrated management solution for heterogeneous firewall policies, and ‘withVTM’, an integrated management solution for vulnerabilities. The sales target is 64.5 billion won.
The following is the contents of the interview with Ko In-gu, CEO of WithNetworks.
Withnetworks Business Performance in 2021
Sales in 2021 increased by 13% compared to 2020 to KRW 45.8 billion. 2021 was a meaningful year not only for external sales growth, but also for internal solutions and products developed through the Security Research Institute. Based on this, we expect sales growth through our solutions in 2022.
A Brief Introduction to Major Solutions
withFLOW, developed by the company, is an integrated heterogeneous firewall policy management solution that enables intelligent simulation models and predictions through impact analysis. After building a 3D-based virtual network identical to the real environment, all analyzes are performed within it, so the simulation function of the optimal firewall policy automation environment is implemented without affecting the actual network at all. With the introduction of the solution, customers can automate and integrate security policy management between various heterogeneous systems in one solution.
Business Projection for 2022
Gartner says that by 2023, 99% of firewall breaches will be caused by firewall misconfigurations, not firewall flaws. Manual operation in managing multiple heterogeneous firewalls may increase the risk of security accidents by causing practical difficulties due to insufficient standardized firewall policy management process and occurrence of human errors.
In addition, due to the nature of firewall policy-related tasks, not only do they have to be performed during off-hours, but due to the increased complexity of tasks, firewall administrators are forced to work overtime and overwork all the time, which coincides with the issue of working 52 hours a week.
In this market environment, the demand for firewall policy management solutions is increasing.
Business Strategies and Goals for 2022
In 2022, we plan to develop our business focusing on withFLOW and withVTM, an integrated vulnerability management solution that is currently being prepared. The sales target is 64.5 billion won, which is a 41% increase compared to the previous year.
In 2022, the Security Threats that Public and Corporate Security Officers Should Be Most Concerned About Are:
The proportion of non-face-to-face remote workers due to COVID-19 is expected to increase by 30% over the next two years. The great advantage of remote work is that companies can hire skilled workers regardless of where they live. However, new security problems may arise when personnel are hired in this form.
With the introduction of remote working, there is a tendency for companies to focus on cloud security, as on-premise security tools and hardware are not being utilized as much.
Amid the recent explosive increase in ransomware attacks and corporate phishing attacks, attackers are becoming more persistent, and attackers are increasing their expertise by providing cyber attacks as a service. As a result, if contracts with too many security-related companies complicate security system operation, it is recommended that security managers establish principles for purchasing new security-related products and develop indicators for integrated strategies.
The latest domestic cyber threat prospects include ▲ Expansion of the threat of ransomware combined with targeted attacks ▲ Intensified DDoS and increased attacks requiring money ▲ Expansion of the scope of cyber threats targeting social infrastructure and critical infrastructure ▲ Non-face-to-face (untact) in the post-COVID-19 era ) Increase in cyber threats targeting security blind spots after conversion ▲Increase in cloud service-targeted attacks ▲Increase in attacks by state-sponsored hacking groups and expansion and diversification of threat targets ▲New security threats emerge due to activation of IoT products using 5G ▲Advanced techniques to circumvent security solutions, etc.
In particular, ransomware is expected to be the most noteworthy cyber threat both domestically and internationally. Recently, a domestic company shut down its business early due to a ransomware attack, and a Japanese automobile company The system of 11 factories around the world was paralyzed, and shipments were temporarily suspended. In addition, hospital systems were paralyzed by ransomware overseas, resulting in the death of an emergency patient.
Ransomware will no longer target and attack targets regardless of field, but it is also expected that the means of threatening companies with important information, customer personal information, and payment information will become more diverse. Therefore, above all, it is necessary to conduct thorough management such as ▲applying the latest security updates ▲not only basic security management such as being careful about executing e-mails and URL links from unknown sources, but also ▲establishing a backup system and strengthening security. /Institutions should identify the latest ransomware attack patterns based on threat intelligence services (applying the latest SOAR (Security Orchestration, Automation and Response) technology), etc., and prepare appropriate countermeasures in advance.