Meet Korean Cybersecurity Companies Expanding in Thailand & Indonesia
16 - 17 July 2024
Eastin Grand Hotel Phayathai, Thailand
6 - 7 August 2024
Ritz-Carlton Mega Kuningan, Indonesia
Supported by:
AirCUVE
SOOSAN INT
MONITORAPP
SECUI
SSNC
Register your Interest to Meet these Korean Cybersecurity Companies
Get in touch.
aibp@industry-platform.com
(+65) 6733 - 1107
For the latest ASEAN Digitalisation Updates, connect with AIBP
Cybersecurity Challenges
Shaping Southeast Asia’s Digital Transformation Landscape
We surveyed over 300 business and IT professionals across the ASEAN region. The survey results revealed that 46% of ASEAN enterprises believe their organisations should allocate more than 20% of their IT budget to cybersecurity. However, at present, over 35% of these organisations allocate less than 5% of their budget to cybersecurity.
In Southeast Asia, the march towards digital transformation is hindered by a formidable obstacle - the rising spectre of cybersecurity and privacy concerns. In 2022, cybersecurity and privacy concerns erupted as one of the Top 5 challenges to Digital Transformation for Southeast Asian enterprises. A striking 28% of surveyed organisations signalled that cybersecurity was a significant impediment. Now, as we find ourselves in 2023, this trend continues to escalate, with 32% of enterprises expressing their worries about cybersecurity hindering their digital transformation journey.
Cybersecurity breaches are costing ASEAN dearly, with an alarming average loss of US$3.05 million per data breach in the region due to malicious cyberattacks, according to IBM's Cost of a Data Breach Report 2023. The primary battleground for these attacks? The financial services sector, where the frontlines are under constant siege from malevolent actors armed with sophisticated malware.
As Southeast Asia presses forward with its digital transformation, the unyielding challenges of cybersecurity and privacy not only persist but deepen, signalling an urgent call for strengthened defences. Addressing these cyber threats with strategic rigour will be crucial in safeguarding the region's digital progress and economic stability, ensuring that innovation thrives on a foundation of robust security.
In 2022, Cybersecurity and Privacy Concerns has gained increased prominence as one of the Top 5 Challenges to Digital Transformation for South East Asian Enterprises.
Mobile App Security in Vietnam: A Growing Concern for CISOs and Cybersecurity Leaders - Highlights from Vietnam
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Strengthening cyberspace resilience is crucial for both enterprises and government agencies, as cyber threats continue to rise in countries like Vietnam and Malaysia.
A 3-pronged strategy of Processes, People, and Technology can be used to promote cybersecurity transformation and threat deterrence.
The rising prevalence of cybersecurity attacks in the mobile application space highlights the need for stronger platform security, as well as collaboration between banking institutions, government agencies, and higher education institutions to combat cyber threats in Vietnam.
Navigating the ASEAN Cybersecurity Landscape: Perspectives from Indonesia and Vietnam
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The rapidly evolving digital landscape in Southeast Asia presents advancements and cybersecurity challenges.
ASEAN countries, with their large populations and growing digital economies, are increasingly vulnerable to cyber threats and attacks.
Cybersecurity and privacy concerns are major obstacles to digital transformation in the region.
The interconnectedness of ASEAN countries creates a complex cybersecurity landscape where threats can transcend national borders.
Indonesia and Vietnam are actively addressing cybersecurity challenges through national strategies, collaboration with institutions, public awareness campaigns, and legislation.
Is cybersecurity spending indicative of commitment to protect assets, reputation, and stakeholders? - Highlights from AIBP Malaysia Advisory Board
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Cybersecurity is crucial for digital transformation success as organisations become more vulnerable to cyber threats.
Investing in proactive cybersecurity measures is essential for protecting digital assets and infrastructure.
Food security is a significant issue in Malaysia, and measures need to be taken to ensure the country's food supply remains secure and sustainable.
Integrating ESG goals into business operations and decision-making processes can provide long-term benefits beyond compliance.
Standardisation of ESG metrics and regulatory guidance is necessary to ensure consistent implementation across different companies and industries.
Can a minimum viable security product (MVSP), help with effective cybersecurity management? - Highlights from AIBP Philippines Advisory Board
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On deciding which digital capabilities to manage centrally to drive efficiencies, it is important to measure scalability in reducing the cost to serve, while managing time resources spent.
On increased cybersecurity risks, a centrally guided cybersecurity roadmap is crucial for conglomerates, with businesses at varying degrees of digital maturity. The discussion highlighted the importance of the minimum viable security product (MVSP), which establishes a baseline security checklist for effective cybersecurity management in the evolving digital landscape.
On enabling a hybrid work model. The shortage of skilled digital workers in the Philippines means that organisations that wish to hire these resources have to offer a hybrid work environment as table stakes. However the availability of technologies such as 3D modelling has also made previously resource intensive work such as maintaining remote sites more efficient. Several companies have also started exploring how to use generative AI to plug the gap. Philippines, with the youngest median age of 25.7 amongst the ASEAN-5, seems to be an an inflection point when it comes to the evolution of work culture
On conglomerates, business consolidation and the value it provides. Mergers and acquisitions are key tools to utilize in extracting value and the Philippines has seen its fair share of consolidation, especially within the banking industry. Discussions centred around creating effective shared services and utilizing scale for technology adoption.