April 2026
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Largest Cybersecurity Public Companies in South Korea
Benchmark revenue and EBITDA valuation multiples for public comps like
AHNLAB, Axgate, Aton Inc, Hancom WITH and ESTsoft.
 | AHNLAB Inc develops industry- leading information security solutions and services for consumers, enterprises, and small and medium businesses worldwide. AhnLab solutions portfolio comprises advanced threat analysis, cloud-based intelligence, endpoint security, network security, advanced threat defense, and security consulting services. The company provides real-time detection and prevention of malware, malicious codes, hacking attacks. | $42 | +2% | $405M | $218M | 1.2x | 4.6x | ||
| Axgate Co Ltd is engaged in network security solutions and control services. The company develops control systems, network security systems, and other products. The company produces and sells essential products for information security such as VPN, FW, UTM, and provides related services. | $9 | +73% | $270M | $266M | 8.2x | 72.0x | ||
| Aton Inc is a fintech service company. It primarily offers fintech security software for financial institutions; smart financial system development of financial institutions; Payment solution for T-money transit card and others. | $5 | +54% | $133M | $121M | 2.7x | 26.6x | ||
| Hancom WITH Inc is a software company providing security solutions and services. The company operates in the Solutions Business Division, the Blockchain Business Division, and Other business divisions. The products offered by the company are AnySign, AnyPIN, XecureDB, XecureKeyManager, Blockchain Security Suite, Hancom SLedger, and others. | $5 | +145% | $116M | $156M | 0.3x | 16.3x | ||
| ESTsoft Corp. develops internet softwares and internet games. Its products include Altools, Bizhard, Cabal and Zum. | $10 | -24% | $102M | $75M | 1.0x | (9.3x) | ||
| Autocrypt Co Ltd is an automotive cybersecurity and mobility solutions provider, dedicated to software-defined, connected, and autonomous mobility. It secures the rapidly evolving framework of automotive and mobility, from software-defined vehicles (SDV) to autonomous driving. Its products include Automotive Cybersecurity Testing, Automotive Cybersecurity Consulting, Automotive Cybersecurity Operation, Automotive Cybersecurity Training, In-Vehicle Systems Security, Digital Key, V2X Security, EV and Charging Security, and MaaS Platforms. | $10 | -- | $96M | $105M | 6.1x | (25.0x) | ||
| Wins Technet Co Ltd Formerly Wins Co.Ltd is an information protection company. It develops information security solution, and network security software. It operates in the field of network security and provides intrusion prevention system, DDoS attack countermeasure solution, intelligent attack countermeasure solution, integrated threat management solution, and firewall. Its also offers services such as security control, consulting.. | $9 | +8% | $93M | $24M | 0.4x | 1.3x | ||
| Median | $9 | +31% | $116M | $121M | 1.2x | 4.6x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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