Shinsegae I&C Promotes MOU on CyberArk Security Solutions
□ Shinsegae I&C signed an MOU with global security company CyberArk.
□ CyberArk PAM Solution will be delivered as a cloud-based service
□ Existing IaaS-centric to SaaS-Enhancing the Competitive Edge by Expanding the Cloud
CyberArk is a global leading company in PAM (Private Access Management) that protects the organization's digital assets and prevents security incidents through system access control of rights accounts.
The MOU signing ceremony will be held on the 14th (Thursday) at Shinsegae I&C headquarters in Hoehyeon-dong, Seoul, and at the Asia-Pacific and Japan headquarters in CyberArch, Singapore.
The signing ceremony will be attended by executives and officials from both companies, including Yang Yoon-ji, executive vice president of Shinsegae I&C's IT2 division, Vincent Koh, general vice president of Cyberark APJ, and Kwon Myung-joong, head of CyberArch's Korean branch.
Through this MOU, the two companies will jointly promote Cloud Security Business and establish cooperative relations in technology and marketing fields to expand domestic and foreign markets.
Shinsegae I&C is planning to launch the service in the first half of the year by building a CyberArk PAM solution as an AWS-based service.
Using PAM Solution as a cloud-based service, you can use cloud-based security services at reasonable prices without any additional system deployment cost or development period.
Starting with this MOU, Shinsegae I&C is planning to strengthen its competitive edge by expanding not only its infrastructure as a service (IaaS) business but also its software as a service (SaaS) business,
which provides cloud-based services, for its ongoing cloud managed service provider (MSP) business.
Yang Yoon-ji, managing director of IT2 at Shinsegae I&C, said, "With the expansion of the cloud industry, security breaches related to rights account have increased,
and corporate customers' needs for cloud security have soared, so we have a strategic business partnership with 'CyberArk,' a leading global security solution company.
We will add the security technology and know-how of the cloud MSP technology and provide efficient security services to corporate customers."
Meanwhile, Shinsegae I&C started its Cloud MSP business in earnest in 2019.
In March of this year, it was selected as an "Advanced Consulting Partner (APN)" by Amazon Web Services (AWS), and is rapidly expanding its market based on technology and know-how specialized in retail industries.