About the Mission
In February 2023, the British Embassy in Seoul will host its first Cyber Week - a week of business and policy- focused events looking to strengthen cooperation between the UK and Korea in the field of cyber security. To enable high-growth, best-in-class UK cyber security companies to participate and capitalise on the commercial opportunities the Korean cyber security market offers, the Department for International Trade will be taking a select group of such companies on a trade mission to South Korea from 6 February to 9 February 2023.
This mission will provide an opportunity for selected UK companies to:
- Explore the Korean ecosystem in depth and understand the resources available to support their expansion to Korea
- Meet with a tailored selection of potential business partners and customers
- Develop relationships and commercial opportunities with Korean corporates
- Network with UK entrepreneurs established in the market
- Engage with policymakers to understand how bilateral trade agreements can benefit their business
South Korea is one of the most connected and technologically advanced economies in the world. With ever expanding device connectivity also comes an increasing need for cyber security measures. In fact, despite boasting one of the fastest digital infrastructures globally, aspects of Korea’s IT infrastructure haven proven vulnerable to cyber attacks.
As both the government and private industry are looking to heighten their security protocols in light of these vulnerabilities, the local market for cyber security solutions is showing strong growth potential. According to the lasted figures published by Korea’s Ministry of Science and ICT, the Korean cyber security market grew at a compound annual growth rate of 12% in 2020, reaching $3.3 bn. This growth trend is expected to continue, making it an opportune time for British cyber security companies to expand to Korea.
This mission to Seoul Cyber Week is designed for export-ready cyber security companies with an interest in:
- Threat intelligence, monitoring, detection and analysis
- Incident response and management
- Network, endpoint, mobile and Internet of Things security
- Information risk assessment and management
- SCADA and information control systems
- Identification, authentication and access control
Please note, this schedule is subject to change.
A pre-mission briefing for selected participants will take place in January 2023.
Day 1: Monday, 6 February
Welcome event with programme briefing in the afternoon
Day 2: Tuesday, 7 February
- Industry seminar with UK and Korean participation, with an opportunity for UK companies to present their cyber security solutions to a relevant business audience
- B2B matching with potential partners and customers, with tailored 1:1 meetings arranged based on participating UK companies' needs and targets
- Networking reception in the evening
Day 3: Wednesday, 8 February
- On-site visits to relevant Korean companies and organisations, allowing participating UK companies to deepen their understanding of the Korean ecosystem, discover concrete market opportunities, and build commercial relations with important Korean conglomerates (such as LG Group and SK Telecom)
Day 4: Thursday, 9 February
- Additional on-site visits
- Roundtable discussions and working groups with business and policy representatives on the role of industry in international standard setting in cyber security, cyber policy and FTAs, business involvement in UK and ROK cyber defence regulation, etc.
- Closing reception with UK and Korean business leaders and policymakers
Selected participants will receive a contribution towards their accommodation costs for the duration of the mission. Companies will need to cover the cost of their flights to Korea themselves. If you have any questions regarding this mission, please contact [email protected].
If you would like to join this mission, please register your interest by clicking on the button below. Please note that registrations close on Monday, 9 January 2023 (14:00 GMT). All companies will be informed of the outcome of their application later that same week.