[Asia Economy Reporter Oh Ju-yeon] Ubivelox announced record-breaking performance by achieving a consolidated operating profit of 6.3 billion KRW for the half-year period.
On the 11th, Ubivelox stated that although sales for the first half of this year amounted to 135.7 billion KRW, a 7.6% decrease compared to the previous year, operating profit increased by 23.6% year-on-year to 6.3 billion KRW, exceeding market expectations.
Ubivelox's profits have recently been rising sharply. In the first quarter, operating profit increased by 22.2% compared to the previous year, and growth continued in the second quarter with a 23.6% increase.
The company explained, "The reason net profit appears to have decreased compared to the previous year is that the previous year's financial statement notes included one-time gains such as 2.93 billion KRW from gains on disposal of tangible assets and 1.83 billion KRW from reversal of financial guarantee liabilities. Actual net profit from operating activities increased by approximately 140%."
In January, Ubivelox was selected as the preferred negotiator for the domestic IC chip standard specification project. This project aims to establish domestic standards in a market that previously followed overseas standards such as VISA and MASTER cards, representing a significant opportunity for future business expansion. Additionally, Ubivelox is reportedly preparing its own unique financial platform that consumers can conveniently use, aiming to expand its traditionally B2B-focused business into B2C in line with the untact era.
A company representative stated, "In addition to continuous performance improvements, we plan to launch our own financial platform that marks our entry into the B2C business. We will also show positive developments by creating new revenue structures through new challenges such as advancing the domestic IC chip standard-setting project."
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