Sinsiway, 2Q Sales Up 25.2% … Growth in DB Access Control and Cloud Services
■ Full-Scale Transition to AI-Based Security Systems, Aiming to Leap Forward as an AI Information Security Company
■ Sales up 25.2%, Operating Profit up 76.9%, Net Profit up 18%
Sinsiway, an information security company, announced on the 8th that its second-quarter sales rose 25.2% year-on-year to KRW 3.317 billion.
Operating profit for the second quarter was KRW 728 million, up 76.9% from the same period last year, while net profit increased 18.0% to KRW 634 million. For the first half of the year, sales, operating profit, and net profit rose 18.9%, 354.2%, and 13.0%, respectively.
By product category, DB access control accounted for the largest share of sales at 35.4%, followed by DB encryption and unstructured data encryption at 33.6%, cloud services at 31.0%, and maintenance at 28.2%. Notably, the DB access control segment recorded the fastest growth, surging 82.1% year-on-year. Cloud services and encryption solutions also continued steady growth.
This strong performance was driven by balanced growth across all business sectors. The DB access control segment saw a sharp 96.3% year-on-year increase, fueled by rising demand for advanced DB security projects and next-generation integrated information systems. In the encryption segment, demand grew for encryption of both structured and unstructured data, especially in the financial sector, driven by new system deployments and integrated construction projects. In the cloud services segment, accelerating cloud migration among public institutions and SMEs continued to support stable growth, bolstered by subscription-based services.
Last year, Sinsiway established the Architecture Division, a dedicated unit for AI and cloud orchestration development. This year, the company launched an AI Task Force, reorganizing its development organization and internal infrastructure. Leveraging these changes, the company is moving forward with an advanced security system that integrates AI technology into its existing security solutions.
In particular, Sinsiway is focusing on developing AI-based data protection technologies and cloud-integrated security platforms to proactively address security threats that may arise in generative AI environments. Through this diversification strategy, the company aims to evolve into an AI information security leader, expanding beyond its traditional security business areas.
Yoo Kyung-seok, CEO of Sinsiway, stated, “Thanks to our focus on customer care, the number of software sales—especially to general enterprises and the financial sector—rose 59.5% year-on-year. We have successfully recovered to our pre-COVID performance levels and beyond.”