Polaris Office Achieves Record High Sales of 107.9 Billion KRW Last Year with Operating Profit Up 277%

Polaris Office announced on the 13th that its consolidated sales last year reached 107.9 billion KRW, an increase of 346.1% compared to the previous year. During the same period, operating profit was 6.2 billion KRW, and net profit was 24.4 billion KRW, increasing by 277.1% and 91.2% respectively compared to the previous year.

In the third quarter of last year, the consolidation of Polaris Sewon and its subsidiaries drove the growth in scale. Additionally, net profit significantly increased due to the reflection of gains from the disposal of Polaris Office’s investment stocks. On a separate basis, sales amounted to 23.1 billion KRW, operating profit was 2.2 billion KRW, and net profit was 22.3 billion KRW.

Polaris Office currently operates business productivity enhancement software businesses including global office solutions, enterprise collaboration platform solutions, mobile security solutions, and blockchain platform businesses. In September last year, it officially launched the AI office platform “Polaris Office AI,” which applies the latest generative AI (artificial intelligence) features such as OpenAI’s “ChatGPT,” Naver’s “HyperCLOVA X,” and Stability AI’s “Stable Diffusion.” It is also the world’s first to develop and is preparing to launch “Polaris Office On-Device AI” with Upstage, enabling generative AI usage even in environments without cloud infrastructure.

A Polaris Office representative said, “From the third quarter, with the inclusion of Polaris Sewon’s performance in the consolidated results, asset size and sales increased, improving the financial structure. We will continue to grow by advancing our new growth engine, the AI office solution, and expanding sales in the collaboration platform business division.”

Meanwhile, Polaris Office Group acquired Polaris AI (formerly Linos), an ICT and fashion specialized company, on the 14th of last month, and plans to acquire Estec Pharma, a company specializing in the manufacture of active pharmaceutical ingredients. Estec Pharma will change its name to Polaris AI Pharma at the regular shareholders’ meeting to be held on the 28th at its headquarters in Hwaseong, Gyeonggi Province. Polaris Office Group aims to strengthen its existing businesses and plans to integrate AI into both companies in the mid to long term.