Company States "Will Achieve 200 Billion KRW in Sales in 2024"
[Asia Economy Reporter Jang Hyowon] “Through the platform 'HAUS,' which enables comprehensive real estate transactions and management using blockchain technology, we aim to create real estate non-fungible tokens (NFTs) linking physical assets and virtual assets and target the market.”
On the 20th, Shin Yonggu, CEO of Korea Technology, held an investor relations (IR) meeting at Ferrum Hall on the 3rd floor of Ferrum Tower near Euljiro 1(il)-ga Station, presenting the company's current business status and management strategy.
Shin Yong-gu, CEO of Korea Technology, is presenting the company's vision at the corporate briefing held on the 20th. / Photo by Korea Technology
The IR meeting was attended by key executives of Korea Technology, a KOSDAQ-listed company, and its subsidiary Daewoo Shipbuilding & Marine Engineering Construction (Chairman Kim Yongbin), as well as institutional and individual investors.
Korea Technology presented a detailed growth roadmap for its newly added business purposes of real estate development and real estate NFT coin business, approved at the recent extraordinary general meeting of shareholders.
First, it proposed growth and profitability in the real estate development business by applying a developer model optimized for the business environment and diversifying business models. It also announced plans to proceed with development projects in Pohang Gokgang-dong and Seoul Yeonsinnae station area mixed-use complexes, following the ongoing real estate development project in Sacheon Songji area.
Furthermore, to target the rapidly growing NFT market, the company revealed plans to introduce real estate NFTs, collaborate with leading companies, and secure core competitiveness. According to industry sources, the blockchain market was estimated at 3,200 trillion KRW as of the end of last year.
In particular, by linking the comprehensive real estate transaction and management platform ‘HAUS’ incorporating blockchain technology, Korea Technology plans to introduce the country’s first so-called ‘real estate NFT’ that connects physical and virtual assets in the domestic real estate market, aiming to become a game changer in the virtual asset industry.
Currently, in collaboration with partner Chainstry, the company is preparing NFT sales for the residential lodging facilities in Siwha MTV and plans to gradually expand real estate sales projects using tokens and blockchain technology.
Additionally, the company intends not to miss out on various promising ancillary businesses related to construction, including the electric vehicle charger business, ICT business, smart parking sensors, and interior design business, all of which have positive market prospects.
Shin Yonggu, CEO of Korea Technology, stated, “The newly entered new business fields have limitless development potential depending on our capabilities. Especially, the NFT sector will be applied not only in construction but also in other business areas, and related projects such as metaverse will be linked and carried out.”
He added, “In 2024, we plan to expand sales to 135 billion KRW in real estate development, 35 billion KRW in NFT-related business, and 30 billion KRW in other businesses, raising Korea Technology’s individual sales to around 200 billion KRW.”
Meanwhile, Daewoo Shipbuilding & Marine Engineering Construction, which has achieved zero major accidents for four consecutive years, received the highest grade of ‘Excellent’ in the contractor category in the public construction safety management evaluation released by the Ministry of Land, Infrastructure and Transport on the 3rd, proving it has the best safety management system in Korea.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
