en.Wedoany.com Reported - Cybersecurity company XGate (엑스게이트) held a press conference in Seoul on the 11th, disclosing a partial list of security product suppliers, covering clients such as police body camera video security for the National Police Agency, CU convenience store payment networks, and financial infrastructure for KB Kookmin Bank and Shinhan Bank. The company's core businesses—VPN (Virtual Private Network) and firewall—contribute approximately 70% of sales, achieving revenue growth for four consecutive years and providing financial support for new businesses such as quantum encryption and AI firewalls.
XGate CEO Joo Kap-soo (주갑수) stated that leveraging the profitability accumulated from existing cybersecurity businesses, the company is addressing two major trends: quantum encryption and AI. As of 2025, VPN accounts for 40% of sales, firewalls for 30%, and the remaining 30% is supplemented by new product lines such as SSL VPN, IPS, and home network security. SSL VPN is a remote access technology that allows access to corporate intranets via a web browser without installing a separate program; IPS (Intrusion Prevention System) analyzes network data in real time and automatically blocks hacker attacks.
The company's annual sales increased from 38.3 billion won in 2022 to 48.1 billion won in 2025, growing for four consecutive years. Operating profit fell from 5.4 billion won in 2022 to 4.1 billion won in 2023, further declining to 3.5 billion won in 2024, before slightly recovering to 3.7 billion won in 2025. The main reason is increased R&D investment. In the first quarter of 2025, sales reached 9.7 billion won, up 25.8% year-on-year, with a full-year target exceeding 50 billion won. In the public procurement market, procurement sales grew from 3 billion won in 2019 to 12.3 billion won in 2025, a fourfold increase over six years. VPN market share is 17%, and SSL VPN is 30%, both ranking second. The company has over 4,000 major domestic clients, including 1,313 in the public sector, 207 financial institutions, and 1,768 enterprises.
The company has a solid financial foundation, with a debt ratio of 34% and an internal retention ratio (유보율) of 1,578%. In terms of new businesses, the Quantum VPN (Q-VPN) has completed a pilot project in the defense sector and is awaiting an official project; the core of the AI firewall—a natural language interface based on a Large Language Model (LLM)—is planned for completion in the second half of this year, with a commercial launch scheduled for the first quarter of next year. The company's stock price fluctuated between 6,100 won and 19,170 won over 52 weeks, closing at 16,270 won on the day, up 3.3% from the previous trading day.
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