Korea Security Briefing 4
Date: Jun 09,2020
From: SECON 2020
KOREA S LEADING SECURITY ENTERPRISES AND THEIR PERFORMANCE AM IDST COVID 19
USD 894 million The total sales of listed 2019 Infor mation Security enterprises
COVID 19 outbreak has put the world in great despair. As of May 25 th , the total number of
confirmed cases has now reached 5.3 million and according to IMF, the global economic loss is to
reach up to USD 9 trillion by 2021 with an economic growth rate of 3.0%. This is considered as the
worst re cession since the Great Depression in 1930.
Where do the Korean security enterprises stand amidst such stagnation? The following article
provides the answer to the specific questions, as it is an analysis of last year’s sales status of Korea’s
leading phy sical and information security enterprises. The figures have been provided by the
Financial Supervisory Service and its Data Analysis, Retrieval and Transfer System (DART).
1. Video Surveillance
IDIS
IDIS managed to increase its revenue by 2.2%, obtaining USD 88 million in 2019. The business
profit increased by 181.7% (USD 3.2 million), but in terms of net income, a loss of 62.9% from USD
3.9 million to USD 1.5 million occurred. Despite the withering market psychology, IDIS targets to
launch solid video surveillance products & solutions, self developed AI and video analytics
solutions, as well as smart parking total solutions.
NC&
In terms of revenue, NC& managed to obtain USD 61 million in 2019 ( ▲150.4%), which is a huge
step from USD 9 million business loss to USD 5 million business profit in 2019. The same applies
to net income, which managed to obtain profit in 2019 Net income loss of USD 9 million in 2018
Information Classification: General
managed to make its way to a profit omanaged to make its way to a profit of USD 3 million. f USD 3 million. NC& is showing progressive growth since the latter half of 2019, targeting annual sales of USD 81 NC& is showing progressive growth since the latter half of 2019, targeting annual sales of USD 81 million in the black box business. Moreover, video surveillance camera ISP managed to maintain million in the black box business. Moreover, video surveillance camera ISP managed to maintain its revenue similar to last year, in which thits revenue similar to last year, in which the importance of advanced products resulted into an e importance of advanced products resulted into an improved profitability. improved profitability.
INNODEP
INNODEP managed to successfully raise its revenue by 76.3% last year (USD 49 million) business
profit of USD 2 million and Net income of USD 1 million. The pre existing V MS and increase in
procurement market sales with Cloud and Smart Monitoring Control Solutions, and high speed
search systems, are held responsible for the revenue.
INCON
Despite its revenue increase in 2019 (USD 25 million), the decline of revenue compared to the year
2018 (USD 33 million) was inevitable a business loss of USD 1 million and a net loss of USD 9
million. Plans for the year 2020 include software technology i nvestment and cost reductions as
well as SI and overseas business for earnings growth and profit improvement.
INCON is currently occupied with sales·distribution of thermal imaging cameras as well as the
following core products of Smart City construction tools such as integrations platform ‘Smart i’
(providing disaster response service) and Fire Guards.
HITRON SYSTEMS
HITRON SYSTEMS
HITRON SYSTEMS’s revenue in 2019 experienced a decline of 10.1% (USD 3 million) compared to
the year 2018 (revenue USD 34 million). Due to the delay of overseas business, reduction of SI
solution business, and the delayed product launches, HITRON SYSTEMS h ad to face a business loss
of USD 13 million and a net loss of USD 15 million. The supply of American ADT goods, the
construction of domestic smart stations and AI CCTV product launch, will probably take up 30~50%
of revenue increase. However, due to the c urrent situation of COVID 19, overseas business has
become stagnant, in which pandemic stabilization and recovery is urgent.
Hanwha Techwin
Hanwha Techwin
Hanwha Techwin managed to increase its revenue by 12.9% (USD 54 million) last year, obtaining a
total revenue of U SD 473 million. Hanwha Techwin marked its position as the leading global
security enterprise by obtaining a business profit of USD 24 million and has been concentrating
on the quality of growth and its core products and solutions since 2017. Integrated sol utions for
video surveillance system and the offering customers with beneficial products and solutions based
on VOC, caught the attention of many.