Hancom Accelerates AI Business... Transforming from Office SW to Technology Platform

Korean Version of Copilot 'Hancom Assistant' Launched
AI Companies and M&A Expected... Aiming for Global Big Tech
Denies Slush Fund Allegations... "Unrelated to Corporation"

Hancom (hereinafter Hancom) is launching an intelligent document creation tool called 'Hancom Assistant (tentative name)' and is officially entering the artificial intelligence (AI) business. The company aims to transform from a business software (SW) company into a technology platform company and compete shoulder to shoulder with global major information technology companies (big tech) within five years.

'Hancom Assistant' Beta Release Scheduled for First Half of Next Year

Kim Yeon-su, CEO of Hancom, held a press conference at the Fairmont Ambassador Seoul on the 28th to unveil the AI business strategy.
[Photo by Hancom]

On the 28th, Hancom held a press briefing at the Fairmont Ambassador Seoul to unveil its AI business strategy. The company announced plans to target the global intelligent automation (IA) market through Hancom Assistant. IA refers to automation tools enhanced with AI, applicable across various industries.

Hancom Assistant is an AI document creation tool connected to multiple large language models (LLMs). It analyzes user intent when given natural language commands and automatically assists in document generation. It is similar to Microsoft (MS)'s generative AI assistant, Copilot. A key feature is its utilization of Hancom’s accumulated document data (script engine). Therefore, it can handle more complex and lengthy commands than existing LLM-linked services. The beta version is scheduled for release in the first half of next year.

Hancom is also developing a document-based question-and-answer system that combines AI and software development kit (SDK) technology. This system provides answers in natural language by utilizing documents owned by customers. It aims to minimize hallucination phenomena, where false information is presented as true. While integrating third-party LLMs such as OpenAI’s ChatGPT and Naver’s HyperCLOVA X, Hancom plans to also use its self-developed lightweight language model (sLLM). The sLLM is optimized for specific use cases to reduce customers’ cost burdens.

Global M&A Foreseen... Competing with Big Tech

Hancom has launched the 'Hancom Alliance,' a coalition with domestic and international partners.
[Photo by Hancom]

On this day, Hancom launched the 'Hancom Alliance,' a coalition with domestic and international partners. The Hancom Alliance is a cooperative body where Hancom and its partners share proprietary technology, sales capabilities, and business opportunities. They plan to collaborate with partners across a wide range of industries including manufacturing, finance, and healthcare. To support this, Hancom has modularized its technology over the past two years. Modularization means making technology components that can be assembled like Lego blocks. The company’s ambition is to transform into a technology platform company by modularizing the technology it has accumulated over more than 30 years as an SW company.

Hancom will also expand its overseas business through mergers and acquisitions (M&A). It is currently pursuing investments in AI companies overseas, including Europe. The company is reviewing investments in domestic firms capable of expanding into overseas markets. Together with Hancom Alliance partners, Hancom plans to establish a sales corporation in Japan and expand its foothold there. Kim Yeon-su, CEO of Hancom, said, "Next year will be a year to actively expand Hancom’s AI business. Our goal is to rapidly grow our presence in the intelligent automation market and become part of the global big tech companies within five years."

Meanwhile, CEO Kim also addressed allegations of slush fund formation within the Hancom Group. He stated that neither Hancom as a corporation nor its management owns the cryptocurrency Arowana token, and thus is unrelated to the allegations. Recently, the police applied for an arrest warrant for Mr. Kim, son of Hancom Group Chairman Kim Sang-cheol, on charges including breach of trust. Mr. Kim is suspected of creating a slush fund worth billions of won through the cryptocurrency Arowana token.