Korea Technology "Achieved 323.1 Billion KRW in Sales and 13.4 Billion KRW in Operating Profit Last Year"

[Asia Economy Reporter Jang Hyowon] Korea Technology, a KOSDAQ-listed company (CEO Shin Yonggu, Lee Byunggil), announced on the 3rd through a preliminary earnings disclosure that it achieved approximately KRW 323.1 billion in consolidated sales and about KRW 13.4 billion in operating profit last year.

According to the disclosure, last year's consolidated sales increased by approximately KRW 106.9 billion (49.4%) compared to the previous year, reaching a record high sales of KRW 323.14839 billion, and operating profit recorded KRW 13.42248 billion, an increase of KRW 17.646 billion, successfully turning to a profit.

This improvement is attributed to increased orders from its subsidiary Daewoo Shipbuilding & Marine Engineering Construction, the offline store launch of Xiaomi’s smartphones and eco products, for which it is the distributor, and the successful development of IoT parking sensor technology.

Shin Yonggu, CEO of Korea Technology, said, “Following the breakthrough performance last year, we plan to achieve results this year that are double those of the previous year in orders, sales, and profits,” adding, “We will lead smart city development by linking IT and eco-friendly construction technology and elevate the level of Korea’s smart construction technology to the next stage.”

He especially noted, “The new renewable energy business, which we have promoted as a new project, has already begun with great success by winning an order for the Saemangeum offshore wind power complex worth KRW 480 billion,” and added, “The renewable energy sector is emerging as a blue ocean, as evidenced by the president’s direct announcement of KRW 48 trillion investment in the Sinan area, which we believe will greatly contribute to our company’s performance.”

Meanwhile, Korea Technology also possesses advanced ‘smart parking sensor’ technology linked with IoT (Internet of Things) networks beyond construction. It has entered public service in 113 public parking lots managed by the Seoul Facilities Corporation, gaining significant popularity, and with the trend toward smart urbanization, demand is expected to gradually increase, predicting that it will drive even more sales in the future.