RaonPeople "Turned Profitable in Q1, Sales Also Soared 50%"

AI Machine Vision Business Sales Increase by 372%... Driving Performance Growth

[Asia Economy Reporter Jang Hyowon] RaonPeople recorded sales of 6.1 billion KRW in the first quarter, successfully turning both operating profit and net profit positive.

AI specialist company RaonPeople (CEO Lee Seokjung) announced on the 14th through its first quarter report (separate basis) that sales increased by more than 50% compared to the same period last year, reaching 6.1 billion KRW, and operating profit and net profit turned positive at 200 million KRW and 300 million KRW respectively.

RaonPeople led the performance growth mainly through its AI-related business, with sales in the AI machine vision sector growing by more than 372% compared to the same period last year. Additionally, sales of Kakao VX golf sensors, which had slowed due to COVID-19 and gathering restrictions, also increased by over 100%, contributing to the successful turnaround to profitability and solidifying its position as a leading AI company.

In particular, RaonPeople explained that following the strong first quarter results, further sales expansion and vision related to AI are highly anticipated.

Earlier this year, RaonPeople signed an AI vehicle inspection solution contract with Hyundai Glovis, leading the world’s first commercialization of AI inspection business for finished vehicles. Since it can inspect the exterior of various vehicle types including internal combustion vehicles as well as hydrogen and electric vehicles, which are expected to increase in volume in the future, continuous sales growth is projected.

The secondary battery AI inspection business is also a promising area. As the smart mobility industry expands with electric vehicles and the application fields of secondary batteries diversify to include bikes, drones, robots, smartphones, and various home appliances, corporate demand for related AI inspections is increasing.

Moreover, due to the nature of secondary batteries, it is difficult to check detailed parts through simple rule-based or visual inspections, so AI inspection is replacing these methods, making business expansion expected.

Regarding this, a RaonPeople official stated, “In addition to individual businesses, we are conducting major government-led projects such as the Customs Service AI convergence illegal counterfeit detection system, autonomous driving AI infrastructure solutions, AI medical and healthcare, and smart agriculture and livestock businesses, aligned with the government’s Green New Deal policy. Not only the government but also various companies are expanding the adoption of AI solutions across multiple business sectors, so sales growth is expected more in the future than now.”

The official added, “By continuously acquiring AI technology patents domestically and internationally, including in the United States, we are raising entry barriers in the global market and strengthening corporate competitiveness, so RaonPeople’s corporate value is expected to be evaluated even higher in the future.”