Honeywell (NYSE: HON) and LG Electronics ("LGE", Korea Stock Exchange: KRX) recently signed a report on developing and demonstrating a unique automotive software technology. A memorandum of understanding with infrastructure solutions to address the security threats associated with the development of vehicle networking technologies. In early January, the two companies demonstrated a collaborative network security solution at the 2018 International Consumer Electronics Show in Las Vegas. The program was further demonstrated during the Detroit 2018 North American International Auto Show that month.
LGE's partnership with Honeywell provides automotive manufacturers with a next-generation network security solution for in-vehicle system communication and the growing external communications over cellular mobile and satellite connections.
The two companies focus on addressing the cybersecurity needs of the automotive industry, from single gateway protection to threat monitoring for large fleets, covering the entire network security chain. The partnership integrates the strengths of the two companies in vehicle intrusion prevention and threat detection (IDPS) technology. LGE focuses on defending against in-vehicle communication modules, and Honeywell's IDPS technology, along with its security operations center with monitoring and analysis capabilities, prevents attacks that enter the vehicle's internal network through various channels and is protected through the cloud. Vehicles are monitored for safety, automatic or manual analysis.
The collaborative solution ensures vehicle safety by effectively identifying and verifying networked vehicle software commands and network communication data. LGE's electronic gateway, in-vehicle communication module (TCU) and electronic control unit (ECU) can detect and report An abnormal condition caused by a mechanical failure or a deliberate attack on the vehicle. Honeywell's network security software protects the car's network security by monitoring the communication anomalies in the car's network. At the same time, the cloud's security operations center can also collect data from large or individual vehicles through real-time or regularly updated data. Conducting further network security monitoring with analysis of potential problems provides automotive manufacturers with an effective remedy.
Honeywell's team of software experts and safety solutions have built Honeywell's more than 60 years of experience in the automotive industry as the world's leading Tier 1 automotive supplier, and Honeywell's value in critical industrial safety applications. The experience is fully integrated. Honeywell's automotive software enables real-time diagnostics of vehicle performance, helping to increase vehicle reliability and reduce warranty costs by up to 5%.
LGE's vision in the automotive parts business is to leverage its proprietary knowledge in the consumer electronics industry to become an innovative partner in automotive electrification. LGE's automotive parts are the fastest growing business and are expected to play an important role in the company's future growth. The LGE team benefits from its extensive network security experience in mobile communications, home appliances and consumer electronics to optimize the network security of its network. LGE plans to make a difference in the vehicle parts market by working with Honeywell's differentiated technology.
“As cars become more connected to external networks, LG Electronics has recognized the importance of car network security and expects to provide end users with a wealth of services. In order to provide our OEM customers with safe products, we have been vigorously Investing in network security in software and hardware, and providing highly secure products to our OEM customers. We have extensive experience in providing a wide range of automotive safety solutions for ECU/TCU and external network protection. By using Honeywell Integrating security software with LGE's security solutions, we look forward to providing next-generation network security solutions to protect the entire vehicle from internal and external networks and ECU/TCU systems and application layers."
“The number of attackable passenger vehicles that have been confirmed has reached more than a dozen, and the number is growing rapidly. We support OEM customers through differentiated software platforms to solve intelligent network and autonomous vehicle development. Inevitable cybersecurity challenges in the process. We are developing a network of partners and working with LGE to reduce the difficulty of integration and provide a comprehensive network security solution."
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