FSN Achieves 95.8 Billion KRW in H1 Sales... "Accelerating Growth in H2"

FSN, a KOSDAQ-listed company, announced that it achieved consolidated sales of 95.8 billion KRW in the first half of this year, representing an approximately 13% increase compared to the same period last year. Notably, excluding the tech business division, which is actively investing in research and development (R&D), the marketing and commerce businesses saw an operating profit increase of more than 5.5 billion KRW compared to the same period last year, successfully turning profitable.

Through its subsidiary Boosters, FSN expanded its life & healthcare brand and platform accelerating business. Boosters, which supports brand growth through specialized marketing services and comprehensive sales boosting for equity-invested or partnership brands, aims to achieve annual sales of 100 billion KRW and recorded strong performance in the first half of this year as well.

Recently, the shoe brand in which FSN has equity investment and collaboration has accelerated its growth in the first half of this year following its record-high performance last year, with sales increasing by more than 300% compared to the same period last year. As the summer heatwave continues, food and beverage partner brands are recording their highest sales, and with new partnerships including athleisure brands actively progressing, the growth rate in the second half is expected to be even steeper.

Since its establishment in 2019, Boosters has consistently maintained profitable management, and over the recent one-year period (second half of 2023 to first half of 2024), it recorded sales of 56.3 billion KRW and operating profit of 5.2 billion KRW, showing strong growth momentum. In addition to its capability to create rapid growth through advertising marketing by collaborating and investing in high-growth brands, Boosters actively utilizes short-form video content on essential advertising channels such as TikTok and YouTube, achieving high results at low costs.

Furthermore, FSN has been continuously improving management efficiency by integrating several advertising subsidiaries within the group since early last year to overcome the overall downturn in the advertising industry, and these efforts have begun to show results this year. The client accelerating business division, which provides advertising and media services, has maintained a steady profit trend since turning profitable in the second quarter of last year, achieving sales of 35.7 billion KRW and operating profit of 1.6 billion KRW in the first half of this year, successfully turning profitable compared to the same period last year.

Seojeonggyo, CEO of FSN, stated, "We have reorganized the group’s tech business centered on the recently acquired Hyper Corporation to maximize synergy with healthcare services. FSN has focused on increasing performance and improving profitability in the client (advertising) and brand accelerating (commerce) business divisions." He added, "While these business divisions are stabilizing and growing continuously, efforts to maximize synergy through subsidiary integration and establish a performance-oriented management system are leading to short-term performance improvements within the group." He continued, "The second half of the year is not only the peak season for the advertising industry but also Boosters, which leads the brand accelerating business, is expected to achieve its highest performance since its founding, so we anticipate continuing even greater growth going forward."