[Asia Economy Reporter Jang Hyowon] Fintech security company Aton (CEO Kim Jongseo) announced its business performance for the first half of the year through a public disclosure on the 14th.
Aton's consolidated sales for the first half amounted to 14.9 billion KRW, with an operating profit of 1.5 billion KRW (separate basis sales of 12.6 billion KRW and operating profit of 2.2 billion KRW). This represents a decrease of 16% and 48%, respectively, compared to the same period last year. However, the decline in performance was mitigated as sales in Aton's core fintech platform division increased by 34% year-on-year.
The cause of the sales decline was attributed to the prolonged COVID-19 pandemic, which led to decreased demand in non-core business sectors such as T-money solutions and smart finance, continuing its impact from the first quarter into the second quarter. On a consolidated basis, operating losses due to subsidiary R&D investments were reflected in the consolidated financials, somewhat dampening growth.
An Aton representative stated, “With the abolition of public certificates and recent government announcements on the Digital New Deal and comprehensive digital finance innovation plans, demand in the authentication market is expected to increase further as non-face-to-face services expand. We will strive to secure a growth foundation by launching new authentication solutions in preparation for this demand in the second half of this year.”
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