Information Security Agreement Between Singapore and South Korea

The Singapore infocomm Technology Federation (SiTF) inked a Memorandum of Understanding (MOU) with Korea Information Security Industry Association (KISIA), enhancing the  collaboration between countries in developing the information security industry. This MOU is the first agreement between SiTF security chapter and an organization outside Singapore, according to Dr. Ngair Teow Hin, chairman of SiTF. The South Korean organization has a similar agreement with Japan Network Security Association (JNSA), said Dr. Deuk Choon Lee, chairman of KISIA.

Exchange and Partnership

The agreement stipulates the exchange of information between countries, which includes the reciprocity of attendance in IT security trade fairs and exhibitions. SiTF and KISIA also plan to establish a research framework to benefit the IT security industries of both countries. Members of both organizations will benefit from increased business opportunities and the utilization of international standards in IT security products and services. Both SiTF and KISIA look forward to clinching similar alliances with other organizations in the region.

Dr. Ngair expressed his satisfaction at signing the MOU because South Korea is one of the top three economies in Asia. He hopes this helps open up new opportunities in overseas markets for Singapore companies. SiTF member companies — and Singapore companies in general — will have  better access to the Korean market.

It is a dynamic market where vendors rarely compete against each other, and would instead collaborate. There is always something you do not know as cyber threats evolve every day.

Dr. Lee said beneficial relationships arise from distinctive IT environments. Where Singapore and Japan are governed by strong IT laws, Korea stands with strong IT products. Lee wants to see a narrowing of the knowledge gap in information security for all Asian countries, because a consolidated Asian IT movement can be more successful and expand into the world market with better results.

SiTF is an organization of Singaporean and multinational IT companies in Singapore that share information and opportunities for research, market presence and expansion. KISIA is a similar organization in South Korea, focusing mostly on information security.