[Asia Economy Reporter Hyungsoo Park] Eastsoft, a company specializing in artificial intelligence (AI) services, is showing strong performance. The news of issuing 5 billion KRW worth of exchangeable bonds and actively expanding its AI new business appears to have influenced its stock price.
As of 9:26 AM on the 13th, Eastsoft is trading at 14,580 KRW, up 14.44% compared to the previous trading day.
Eastsoft issued exchangeable bonds to Shinhan-JW Mezzanine New Technology Investment Fund No. 1. The bonds have a 0% coupon rate, a 2% maturity interest rate, and an exchange price of 14,500 KRW.
Eastsoft plans to focus on the full-scale market entry and business expansion of AI new businesses such as AI virtual humans and AIwear virtual fitting commerce using the raised funds. The AI virtual human business rapidly expanded into various fields such as education, news, and healthcare after establishing a world-class AI virtual human dedicated studio capable of 8K implementation in December last year.
It introduced the first bilingual AI TOEIC speaking instructor in the domestic education industry capable of simultaneous Korean-English speech. Through aggressive investment in developing proprietary IP and integration with ChatGPT, Eastsoft plans to put the AI virtual human business on a solid growth trajectory in both domestic and international markets.
Eastsoft also invests in its subsidiary AIwear’s virtual fitting commerce company, 'ROUNZ'. ROUNZ, which is growing by building an O2O omnichannel within the existing eyewear industry through AI virtual fitting technology and partner optician policies, entered the B2B business in earnest last year and secured about 600 partner opticians. The ROUNZ app is the only virtual fitting service introduced on Apple Korea’s homepage, distinguished by its advanced technology.
Jungsangwon Lee, CEO of Eastsoft, said, "We plan to focus on expanding AI new businesses that are attracting attention not only domestically but also in the global market," adding, "This year will be the first year to achieve tangible results through AI new businesses."
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