Hancom, 2Q Operating Profit 13.7 Billion KRW... 12.2% Decrease YoY

[Asia Economy Reporter Kang Nahum] Hancom, a leading software company, announced on the 16th that it recorded consolidated sales of 61.2 billion KRW and operating profit of 13.7 billion KRW in the second quarter of this year. Compared to the same period last year, sales fell by 9.4% and operating profit decreased by 12.2%.

Hancom LifeCare, a consolidated subsidiary, experienced a delay in supply due to the completion of contracts, resulting in the deferral of first-half sales to the second half. Additionally, Hancom MDS, which was sold as part of a business portfolio restructuring, has been classified as a discontinued operation in the consolidated financial statements starting this quarter.

Hancom is set to aggressively restructure its business for mid- to long-term growth this year. In particular, under the business focus of 'Global-Data-Service,' the company is concentrating on a strategy to expand its software-centric business into cloud and service sectors.

In the first half of this year, Hancom supplied ‘Hancom Gureum,’ a core cloud work environment system, to the Ministry of the Interior and Safety, and launched ‘Hancom Sign,’ a Software as a Service (SaaS) that provides the entire electronic contract process based on ‘Hancom Office,’ thereby expanding its market from B2G/B to B2C.

Hancom plans to focus on cloud services in the second half of the year. Along with the full-scale commercialization of ‘Hancom Sign,’ it will launch ‘Hancom Docs,’ a subscription-based service developed as a cloud-based SaaS version of Hancom Office. This transition from a solution product to a subscription-based service will allow more customers to use the service regardless of device or location.

Furthermore, in line with the cloud transition of public institutions, Hancom will continue to expand the supply of ‘Hancom Gureum’ and focus on expanding its cloud business by releasing APIs (Application Programming Interfaces) and SDKs (Software Development Kits) modularized by function based on Hancom Office technology, thereby continuously securing new business models.