WiseITech, Benefiting from Digital New Deal and Intelligent Government Promotion

[Asia Economy Reporter Hyungsoo Park] NH Investment & Securities forecasted on the 1st that Wise I Tech will benefit from the expansion of the public data market driven by the Digital New Deal and the promotion of an intelligent government.

Junki Baek, a researcher at NH Investment & Securities, stated, "The Data 3 Act, Digital New Deal, and Digital Dam, which form the foundation of the artificial intelligence industry, are being actively implemented," adding, "Public sector investment to foster related industries is expected to increase."

He continued, "Wise I Tech has a public sector ratio of up to 70%," and added, "Its main products?data quality, big data analysis, and machine learning solutions?are essential for big data preprocessing and utilization."

Furthermore, he noted, "With the opening of public data, demand for data quality and areas of application are expanding," and predicted, "We expect to secure numerous public contracts this year as well."

Researcher Baek analyzed, "Since each ministry has different application fields, an increase in service costs due to customization is inevitable," and "In the short term, the operating leverage effect in the public sector will not be significant."

He estimated sales of 31.2 billion KRW and operating profit of 5 billion KRW this year, representing increases of 25.5% and 36.3%, respectively, compared to last year. Researcher Baek emphasized, "Along with market growth, Wise I Tech's long-standing experience and track record serve as competitive advantages."