Gaon Media "Q1 Operating Profit Up 288% YoY... Expectations Rise for Best Performance This Year"

[Asia Economy Reporter Hyunseok Yoo] AI total solution specialist Gaon Media announced on the 28th that its provisional consolidated sales for the first quarter of this year reached 121.5 billion KRW, with an operating profit of 7.1 billion KRW. Sales increased by 23% compared to the same period last year, and operating profit rose by 288%.

The company explained that this is attributed to achieving steady sales through market expansion driven by diversification of OTT services, and improving profitability by increasing the supply ratio of AI devices.

The sharp growth of its network solution subsidiary, Gaon Broadband, also significantly contributed to the performance. It achieved substantial results by signing new solution supply contracts with major domestic and international telecom operators, including the public Wi-Fi project, which is part of the government's Digital New Deal policy.

Gaon Broadband’s self-developed remote network management solution KRMS (Kaon Remote Management System) and the continuously increasing demand for high-quality networks in a favorable market environment have led to rapid sales growth.

A company official stated, “Since additional results from AI device exports overseas and new network solution market development are expected to be reflected in the second half, record-breaking performance is anticipated this year.”

Meanwhile, Gaon Broadband, a subsidiary pursuing an initial public offering (IPO), plans to complete its listing on the KOSDAQ market within next year.