November 23, 2022 – MAJEDAAR Co., Ltd. (CEO Jung, Deok-min) and GITSN Inc. (CEO Han, Dong Jin) signed a MOU for the strategic launching of security solutions in the Indian market on October 13th, 2022.
MAJEDAAR CEO Jung, Deok-Min (left) and GITSN CEO Han, Dong-Jin (right) are taking a commemorative photo after signing the MOU
The two companies are going to work together in various ways to advance into the Indian market.
By fully utilizing the vast investment and relationships in India that MAJEDAAR has built up over the years, they plan to introduce advanced wireless security solutions such as GITSN's wireless eavesdropping detection system and wireless hacking detection system to the Indian market.
India, a friendly country that dispatched medical support units during the Korean War, is celebrating its 75th anniversary of independence this year, and the demand for cybersecurity has been increasing. The business cooperation between MAJEDAAR and GITSN is unique as it introduces Korea's advanced wireless security technology.
India has been continuously working to strengthen its security infrastructure over the recent years. Ever since COVID-19, due to international issues such as the border dispute with China and the Russia-Ukraine war, Indian government agencies and companies have been rapidly transitioning into the digital age. Cybersecurity threats, such as unauthorized information infringement and hacking, are increasing rapidly and the demand for counter-measures has also increased.
Accordingly, global companies and local companies in India are actively promoting the growth of the cybersecurity market based on the active support of the government. Multinational companies continue to advance into the Indian market, and local startups are also achieving high performance. The Indian cybersecurity market is expected to reach a size of up to US$3.05 billion this year, and the prospects are very bright.
MAJEDAAR was established in 2014 as a corporation specializing in India the Indian market and has been leading Korean companies' entry into the Indian market for about 10 years.
Jung Deok-Min, CEO of MAJEDAAR, is a private diplomatic envoy who served as the first Vice Minister of Education, Science and Technology, advisor to the President's New Southern Policy Special Committee, and Honorary Consul-General of India in Korea. He is evaluated as the right person to introduce Korean technology to the Indian cyber security market.
Meanwhile, GITSN has been researching and developing radio frequency analysis technology for the past 23 years, and is a cyber security company specializing in analysis and defense against new security threats that infringe information such as wireless eavesdropping and wireless backdoor hacking.
At the MOU signing ceremony on October 13, MAJEDAAR CEO Jung Deok-Min said,“In the information age of the 21st century, thorough cyber security is very important as it can have great impact on national security as well as the economy.” He also said,“Based on business cooperation, we will establish a cutting-edge cyber security system for the Indian government agencies as well as the financial sector and the private sector in order to elevate our status as a leading player in K-Security.”
SOURCE : GITSN, Inc.
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