Flitto, a specialized AI language data company, announced on the 29th that its largest shareholder, CEO Lee Jeong-su, purchased 17,534 shares of the company's stock on the open market. CEO Lee's stake in Flitto has increased to 24.20%.
Flitto recorded its highest-ever sales in the third quarter of this year and successfully turned its net income positive.
Recently, the stock price declined due to external factors such as foreign institutions reducing their share in the domestic market. In this regard, a company representative explained, "Global demand for AI training language data and AI interpretation and translation solutions continues to grow," adding, "As Flitto’s competitiveness, with over 66% of total sales generated overseas, gains attention, the stock price is rapidly recovering."
CEO Lee Jeong-su’s purchase on the open market is interpreted as a demonstration of responsible management and a commitment to enhancing corporate value, as well as a strong expression of the company’s continuous growth potential and efforts to strengthen global competitiveness.
Flitto plans to continue its growth trend in the global market centered on AI and language data, aiming for a double-digit annual sales growth rate in the language data supply sector by next year, while enhancing corporate value and competitiveness. Through the newly launched AI-based real-time interpretation and translation solutions, 'Live Translation' and 'Chat Translation,' Flitto intends to achieve additional sales growth and improved profitability.
CEO Lee Jeong-su stated, "I judged the recent stock price decline as a short-term undervaluation caused by external factors," and added, "I acquired additional shares with a sense of responsibility regarding this." He continued, "Along with the expanding data demand from global big tech companies and the visible supply of AI real-time interpretation and translation services in the Middle East, we will further strengthen our competitiveness based on the strong third-quarter performance and firmly establish our position in the global market."
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