Polaris Office Reports Operating Profit of 2.1 Billion KRW Last Year on Separate Basis... "Successful Turnaround to Profit"

[Asia Economy Reporter Jang Hyowon] Polaris Office, a company specializing in office software (SW), has secured business stability by achieving a significant turnaround to profitability last year, benefiting from the expansion of remote work environments.

On the 24th, Polaris Office announced through a preliminary earnings report that its operating profit on a separate basis for 2021 was 2.1 billion KRW, an increase of 7 billion KRW compared to the previous year, marking a return to profitability. During the same period, sales reached 18.2 billion KRW.

It was explained that as remote work environments became normalized after COVID-19, the fundamental profitability of the global office SW 'Polaris Office,' which facilitates cloud-based collaboration, has improved.

Last year, Polaris Office expanded its business areas such as OTT (online video service) and commerce based on the 'Polaris Office' platform, which has 110 million subscribers worldwide. It also achieved success by supplying the educational web office product 'Polaris Office Edu' to the Gyeongnam Office of Education through cooperation with Naver.

A Polaris Office official stated, "Operating profit increased significantly last year based on the expansion of the 'Polaris Office' cloud market and a strong profit base," adding, "This year, we plan to expand platform business based on 'Polaris Office,' increase our presence in the collaboration tools market, and actively pursue blockchain business."

He continued, "In particular, due to the expansion of the application scope of the new external audit law and recent issues strengthening internal accounting management, demand for the collaboration tool solution 'Atlassian' is increasing, so we expect the profitability trend to continue this year as well," and said, "The blockchain business through our affiliate Polaris Share Tech and the mobile security solution business, which can address cybersecurity issues in the metaverse era, will also be key growth drivers."