Woorinet Strengthens 5G Wired and Wireless Business Capabilities... "Expecting Performance Improvement"

[Asia Economy Reporter Hyungsoo Park] Woorinet announced on the 9th that it expects performance growth this year as its 5G wired and wireless business continues to grow.

Woorinet recently decided to participate in the development of 5G modules for the '5G Module Industry Ecosystem Activation' project conducted by the Ministry of Science and ICT and the National Information Society Agency (NIA). Woorinet became a consortium member in the Ministry of Science and ICT's 5G module development project. Accordingly, it will provide technological capabilities to domesticize the dedicated chipset for 5G modules embedded in various Samsung Electronics sensors, robots, and other enterprise (B2B) terminals.

Last month, Woorinet adopted the latest 5G hardware and software technologies from Qualcomm, a mobile communication chipset company. Woorinet operates a 5G Internet of Things (IoT) module and terminal business equipped with Qualcomm's latest chipset, the Snapdragon X62 5G modem-RF system, and expects it to serve as a long-term cash cow.

Woorinet is participating in the plan to build a smart city in Anyang-si. It supplies disaster network wireless communication equipment to Anyang-si's urban infrastructure IoT data linkage platform system. The smart city development project is a future-oriented urban infrastructure construction project that applies 4th industrial revolution technologies such as information and communication technology (ICT), IoT, and artificial intelligence (AI) to enable continuous urban development.

Based on the co-growth of its 5G wired and wireless business, Woorinet issued convertible bonds worth 20 billion KRW to KB Securities last year. The coupon rate is 0%, and the maturity guaranteed yield is 0%.

A Woorinet official said, "We have strengthened our capabilities in the 5G-related wired and wireless business," adding, "This year, based on the newly established M&A dedicated team, we expect growth by actively pursuing M&A activities and new businesses."

This content was produced with the assistance of AI translation services.