South Korea’s information security solution provider SSR Inc., a subsidiary of security software company Jiransecurity Co., is prepping to go public on the nation’s tech and bio-laden Kosdaq market.

Jiransecurity announced on Tuesday that its subsidiary SSR applied for a preliminary review for its initial public offering to Korea Exchange (KRX). SSR, designated by the Korean Ministry of Science Technology and Information Communication as a information security consulting specialized firm, has been providing comprehensive information security and personal data maintenance solutions including finding security holes, setting up information protection management system and privacy protection system and developing IT solutions, to government organizations and companies.

SSR, comprised mainly of the nation’s top white hat hackers, generates revenue almost evenly from information security solution products and consulting. It was placed under Jiransecurity in July after Jiransecurity bought a 74.2 percent stake in SSR for 17.8 billion won ($16 million).

SSR has developed security solutions capable of finding and remedying data security vulnerabilities based on its extensive experiences in providing security consulting. Its most popular products include SolidStep, a comprehensive scanning solution for IT assets, MetiEye, a comprehensive monitoring system, and SolidStep Cloud, an IT infrastructure vulnerability scan service.

Market experts project a rosy outlook for SSR as demand for solid solutions for information and data protection is growing in the Internet of Things (IoT) and big data landscape.

“We expect the IPO could be completed by July,” said an official from the company, adding that listing on the Kosdaq market would help the firm expand its business scope and create synergies among its businesses.

As of 1:47 p.m. on Wednesday, shares of Kosdaq-listed Jiransecurity fell 3.8 percent to 2,535 won.

By Chung Woo-sung and Choi Mira

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