KT PlayD "Q2 Revenue 11.4 Billion Won... Highest Quarterly Record"

Operating Profit 2.2 Billion KRW... 111% Increase Compared to Previous Year

[Asia Economy Reporter Minyoung Cha] KT's digital advertising specialist company PlayD announced on the 12th that its sales in the second quarter of this year rose 24% from the same period last year to 11.4 billion KRW, marking the highest quarterly performance ever. Operating profit reached 2.2 billion KRW, up 111% from the same period last year, recording the highest level in the past three years.

PlayD explained that in the second quarter, strong sales performance was driven by the expansion of media coverage, leading to increased advertising spending by major large advertisers and the acquisition of new advertisers. The company added that the increase in operating profit was mainly due to the efficiency improvement of some low-profit businesses.

PlayD emphasized that despite budget cuts by major advertisers and a sluggish business environment caused by COVID-19, it made multifaceted efforts to strengthen its competitiveness.

The company stated that last year it achieved a total advertising sales volume (handling amount) exceeding 450 billion KRW annually. This ranks first in the industry based on the digital advertising single business sector and sixth overall among all advertising agencies, including comprehensive advertising agencies.

Lee Jun-yong, CEO of PlayD, said, "In the second half of the year, we plan to expand investments in costs in new businesses such as commerce along with the expansion of the advertising business based on strengthening creative capabilities such as video production," adding, "We will strive to drive stable performance growth in the future and enhance shareholder value in the long term."