By Jun Ji-hye
ADT Caps and KT Telecop are doubling efforts to catch up with top security platform provider S-1 next year by creating synergy with their parent mobile carriers offering high-end fifth-generation (5G) networks and other advanced IT services, company officials said Monday.
S-1, Samsung Group's security arm, has maintained its top position in the domestic security monitoring and dispatch service market, with sales reaching 1.9 trillion won ($1.7 billion) in 2017.
ADT Caps, a subsidiary of SK Telecom, and KT Telecop, a subsidiary of KT, have been chasing S-1, with their sales standing at 722 billion won and 315 billion won, respectively, during the same period.
According to market researcher Euromonitor, the scale of the security service market has continued to grow from 4.6 trillion won in 2016 to 4.8 trillion won in 2017.
Given that the market position of S-1 has been solid, there won't be a sudden change in the ranking of the three firms' market shares, but observers expect ADT Caps and KT Telecop to be able to gain larger slices of the pie in the market if they showcase innovative services in cooperation with their parent telecom companies.
In a bid to take the throne of the market away from S-1, SK Telecom, the nation's top mobile carrier, combined ADT Caps with NSOK, a smaller physical security company, earlier this month, keeping the company name of ADT Caps.
ADT Caps was acquired by SK Telecom in October, while NSOK was a subsidiary of SK Telink.
Following the merger between ADT Caps and NSOK, the former was able to absorb human and physical resources of the latter and created new departments to enhance business competitiveness.
"ADT Caps that was newly launched will lead innovation of the domestic security market by securing future growth engines integrated with specialty in security business and advanced information and communications technology," said an official from ADT Caps.
The firm plans to focus on future security businesses that will be integrated with SK Telecom's advanced technologies such as 5G, artificial intelligence (AI), big data and internet of things to attract more customers.
KT, the second-largest mobile carrier, has recently named Jeong Joon-soo, who served several major positions in KT and KT estate, as a new CEO of KT Telecop. Positions he served included heads of ICT convergence business and future business at KT estate.
Given that Jeong has served diverse positions in KT and its subsidiary, the appointment was construed as the mobile carrier seeking to enhance synergy between telecommunication technology and security business.
Meanwhile, S-1 said it was looking on the bright side of the rapidly changing security service market as increasing competition and emergence of new technologies will be an opportunity to expand the scale of the market.
But S-1 is also expected to diversify its services in order to protect its existing customers and defend against competitors.
ADT Caps and KT Telecop are doubling efforts to catch up with top security platform provider S-1 next year by creating synergy with their parent mobile carriers offering high-end fifth-generation (5G) networks and other advanced IT services, company officials said Monday.
S-1, Samsung Group's security arm, has maintained its top position in the domestic security monitoring and dispatch service market, with sales reaching 1.9 trillion won ($1.7 billion) in 2017.
 |
| S-1 CEO Yook Hyun-pyo |
According to market researcher Euromonitor, the scale of the security service market has continued to grow from 4.6 trillion won in 2016 to 4.8 trillion won in 2017.
Given that the market position of S-1 has been solid, there won't be a sudden change in the ranking of the three firms' market shares, but observers expect ADT Caps and KT Telecop to be able to gain larger slices of the pie in the market if they showcase innovative services in cooperation with their parent telecom companies.
In a bid to take the throne of the market away from S-1, SK Telecom, the nation's top mobile carrier, combined ADT Caps with NSOK, a smaller physical security company, earlier this month, keeping the company name of ADT Caps.
 |
| ADT Caps CEO Choi Jin-hwan |
Following the merger between ADT Caps and NSOK, the former was able to absorb human and physical resources of the latter and created new departments to enhance business competitiveness.
"ADT Caps that was newly launched will lead innovation of the domestic security market by securing future growth engines integrated with specialty in security business and advanced information and communications technology," said an official from ADT Caps.
The firm plans to focus on future security businesses that will be integrated with SK Telecom's advanced technologies such as 5G, artificial intelligence (AI), big data and internet of things to attract more customers.
KT, the second-largest mobile carrier, has recently named Jeong Joon-soo, who served several major positions in KT and KT estate, as a new CEO of KT Telecop. Positions he served included heads of ICT convergence business and future business at KT estate.
 |
| KT Telecop's incoming CEO Jeong Joon-soo |
Meanwhile, S-1 said it was looking on the bright side of the rapidly changing security service market as increasing competition and emergence of new technologies will be an opportunity to expand the scale of the market.
But S-1 is also expected to diversify its services in order to protect its existing customers and defend against competitors.
