South Korea's information security market expanded nearly 17 percent last year from a year earlier thanks to sharp growth in cloud and network security services, government data showed Monday.
The total sales of the country's cybersecurity industry reached 16.2 trillion won (US$12.3 billion) in 2022, up 16.7 percent from a year earlier, according to the data by the Ministry of Science and ICT.
The information protection sector, which includes network and platform protection and cloud solutions, saw its sales jump 23.5 percent on-year to 5.6 trillion won, and sales of security devices like surveillance cameras and biometrics-based systems rose 13.4 percent on-year to 10.6 trillion won last year.
In particular, sales of cloud solutions soared more than fourfold to 359.2 billion won last year, and those of network security solutions jumped 60 percent on-year to 1.5 trillion won.
Exports of the South Korean information security industry reached 2.2 trillion won last year, up 6.2 percent from a year earlier.
A total of 1,594 companies had operated in the sector in South Korea as of last year, employing 64,831 workers, the ministry data showed.
Source: Yonhap News Agency