Korea Center Reports Q1 Revenue of 80.2 Billion KRW and Operating Profit of 3.1 Billion KRW

[Asia Economy Reporter Lim Chun-han] Korea Center announced on the 17th that its consolidated sales for the first quarter of this year reached 80.21 billion KRW, with an operating profit of 3.07 billion KRW. Combining the sales and operating profits of Korea Center and Danawa, the total sales amounted to 123.95 billion KRW, and operating profit was 9.18 billion KRW. Considering Danawa's one-time expenses of approximately 4 billion KRW in the first quarter, profits have been steadily increasing compared to the same period last year.

The total gross merchandise volume (GMV) of Korea Center and its affiliates in the first quarter recorded 3.0128 trillion KRW, showing balanced growth in big data solutions, shopping solutions, and audio (podcast) sectors. However, due to a decline in overseas business sales, consolidated sales and operating profits decreased by 9.3% and 28.7% respectively compared to the same period last year, while net profit increased by 4.5% year-on-year to 3.83 billion KRW.

Enuri Platform's sales increased by 19.5% year-on-year to 9.13 billion KRW. Enuri Platform, which has secured 13 million standard product data and over 1 billion product data points and provides big data-based solutions to various partners, achieved for the first time since its founding a majority share of 50% in big data sales within its total sales.

MakeShop Platform's sales rose by 3.8% year-on-year to 22.78 billion KRW. Thanks to the shopping mall search engine Dachatda and dedicated web solution support for Coupang, the total transaction amount for shopping malls and market-linked transactions reached 2.2359 trillion KRW. Podbbang saw an 87.3% increase in sales compared to the previous year, driven by the popularity of paid broadcasts centered on audio magazines.

Moltale Platform's sales decreased by 20.5% year-on-year to 45.6 billion KRW. Fulfillment orders centered on 11 logistics centers across 8 countries reached approximately 540,000 cases. This was mainly due to a reduction in volume caused by supply chain disruptions from the prolonged COVID-19 pandemic affecting global manufacturers. Additionally, performance declined due to exchange rate increases and heightened international political risks stemming from the Ukraine war.

Kim Ki-rok, CEO of Korea Center, stated, "Overall growth continued, but the overseas business division faced difficulties due to adverse overseas factors," adding, "In the second quarter, significant performance improvements are expected due to the strategic preparation of businesses showing improvement trends in the overseas division and synergies from the acquisition of Danawa."