IGLOO SECURITY, Inc. accelerates advancement into Chinese physical security market Enters MOU with Shouwei Security in China
IGLOO SECURITY, Inc. accelerates advancement into Chinese physical security market
Enters MOU with Shouwei Security in China
- IGLOO SECURITY, exclusively supplies security product to Shouwei Security, a leading physical security company in China
- Target physical security market in China based on the sales momentum of Shouwei Security
[17 December 2015] IGLOO SECURITY gears up to to advance into the Chinese market based on the sales forceof local promising partner company. IGLOO SECURITY (CEO Deuk choon Lee, www.igloosec.com), a leading company in the next generation integrated security management, announced that it entered MOU with Shouwei Security (http://www.bjshouwei.cn), a company specialized in physical security in China to establish a business partnership with respect to physical security. IGLOO SECURITY intends to focus on securing competitiveness in the physical security market in China, by exclusively supplying physical security products and services via organic cooperation based on establishment of a joint company..
Since its establishment in 1999, IGLOO SECURITY has introduced diversified security solutions and services to the market, and has made its firm stance in the domestic integrated security market by successfully establishing U-City and CCTV integrated control center by providing ‘LIGER-1’, a control solution for integrated control of various physical security devices on a realtime basis. Through this MOU, IGLOO SECURITY plans to accelerate advancement into the physical security market in China by exclusively supplying ‘LIGER-1’, based on the sales network in China, high brand power and knowhow, owned by Shouwei Security
Shouwei Security is a physical security company in China providing system surveillance and guard service to offices, buildings and institutions. It is one of the top 10 companies in the industry and has high number of customers in the Chinese local market.
CEO Deuk choon Lee of IGLOO SECURITY said “With the nationwide plan of installing CCTVs focusing on regions of high floating population called ‘safe city project; led by the central government, it is expected that the demand for physical security solution for integrated management of this will rapidly increase”, and added by saying “Through the cooperation with Shouwei Security that is highly recognized in China, we are planning to provide the supply system optimized to the Chinese market and discover new customers.”
In the meantime, according to the analysis data by the Korea Trade Investment Promotion Agency (KOTRA), the information protection market in China is showing a rapid growth with its size increasing approximately by 311% from 5.5 billion Yuan (approximately KRW 992 billion) in 2006 to 22.6 billion Yuan (approximately KRW 4.78 trillion ) in 2014.