South Korean mobile carrier KT is out to target a niche market of small companies looking for an affordable network security system with a new network protection device for computers called the “Wiz Stick.”

Priced at just 90,000 won ($75), KT’s Wiz Stick is a portable, multifunctional security device offering comprehensive network protection capabilities as well as “security token” technology used to authenticate a person’s identity online.

Designed for application to a single computer, the Wiz Stick is classified as a “Unified Threat Management” device, which contains multiple security-related applications within a single management console.

“Though UTM devices already exist in the global network security market, led by big names such as Cisco and Fortinet, the cheapest models cost at least 1 million won (or around $830),” Cho Young-kyung, manager of KT’s Smart Connectivity Business Department, told The Korea Herald.

“Given this, we are trying to pioneer a new low-end segment in the UTM device market with the Wiz Stick. We believe our device can appeal to small companies and organizations that utilize less than 10 corporate computers.”

Unlike big companies that purchase multiple high-end network security software, small firms usually cannot afford that big of an investment to protect just a handful of computers. This gap is what the Wiz Stick — one stick can be used for one computer — precisely aims to fill, Cho said.

In terms of network protection, the Wiz Stick offers defense against diverse forms of hacking as determined by big data accumulated by KT, the company said.

Equipped with firewall, network intrusion recognition and virtual private network capabilities, the Wiz Stick defends the computer from malware, phishing and pharming attacks, as well as other common security threats.

The Wiz Stick also acts as a “security token,” or an electronic identity authentication method often used for accessing ones online bank account. KT’s device requires the owner’s fingerprint, a safer identity marker than the widely used four-digit passcode.

In addition, the device is designed to prevent financial fraud at companies as well, according to Cho. When a person tries to complete a transaction using the Wiz Stick, the information is sent to a third party, such as the CEO, who must authorize the deal.

“This function (available at 3,000 won per month) can be particularly useful for small companies running their day-to-day tasks with just a few employees,” Cho said.

KT plans to introduce the Wiz Stick to overseas markets — with Thailand, Vietnam, Indonesia and China as strong candidates — before March, according to Cho.

In preparation, the Korean carrier signed a memorandum of understanding with global network security company Fortinet last year, under which the US-based firm agreed to help promote and sell KT’s Wiz Stick in global markets.

By Sohn Ji-young (jys@heraldcorp.com)