"Alchera, Possessing World-Class Video Recognition AI Solutions"

[Asia Economy Reporter Hyungsoo Park] NH Investment & Securities stated on the 1st that Alchera possesses world-class technology in the video recognition AI solution sector and expects its sales revenue to increase this year.

Alchera, established in 2016, is a specialized company in artificial intelligence (AI) video recognition solutions. Its largest shareholder is Snow, a subsidiary of Naver, holding a 15.4% stake. The company provides AI facial recognition, anomaly detection AI, data collection and editing, and large-scale database collection solutions.

Researcher Kyunggeun Kang of NH Investment & Securities explained, "They possess world-class technology in facial recognition AI and anomaly detection AI fields," adding, "They received an A grade in the technology evaluation from eCredible and Korea Enterprise Data."

He continued, "They ranked first domestically in the global largest facial recognition test (FRVT) hosted by the U.S. National Institute of Standards and Technology," and added, "They were the first in Korea to apply their technology to the Ministry of Foreign Affairs passport recognition and financial sector payment solutions."

Furthermore, he analyzed, "They provide AR solutions to Snow Camera and anomaly detection AI solutions to Korea Electric Power Corporation," and stated, "They have secured major domestic and international clients across various AI video recognition business sectors."

Researcher Kang predicted, "Business results based on existing references will become concrete starting this year," and anticipated, "Sales expansion through fintech (CU) store expansion, NongHyup ATM application, and metaverse-related AR/VR solutions."

It is estimated that this year’s sales revenue will reach 93.5 billion KRW, with an operating profit of 1.2 billion KRW. This represents a 103.5% increase in sales compared to last year. Operating profit is expected to turn positive.