HANCOM Sends Third Letter to Shareholders, “Focusing Investment in SaaS and AI Projects with the Largest-ever Cashable Assets”

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Business Intelligence

Third letter to shareholders expresses intent to communicate continuouslyImplementation of generative AI in HANCOM Office SW to enhance product competitiveness and expand in overseas marketsRestructuring of high-intensity projects through selection and concentration to establish a foundation for long-term future growth

SEOUL, South Korea, May 11, 2023 /PRNewswire/ — HANCOM (030520, CEO Sung-Jun Byun/Yeon-Soo Kim) announced on May 10 that the company has sent a letter to shareholders for the first-half of 2023.

When it sent its first letter to shareholders in 2021, HANCOM promised continuous communication with the shareholders. With this third letter, the company is keeping its promise.

In the letter, HANCOM stated, “Starting last year, we began a full-scale transition from an installation software-oriented business structure to a cloud SaaS-oriented business structure,” and emphasized, “HANCOM will make a leap forward by restructuring the company portfolio for the expansion of cloud SaaS projects and taking a leadership role in the domestic and overseas AI editor markets through AI development, while also staying aggressive.”

HANCOM will implement generative AI technology in its HANCOM Office SW to improve product competitiveness based on customer needs and establish a growth engine for expansion in overseas markets. In addition, HANCOM Office Editor will be integrated with robotic process automation (RPA) through partnerships with domestic and overseas partners via an SaaS model to secure a new source of revenue across various industries and services.

Notably, HANCOM secured the company’s largest-ever amount of cashable assets through the sale of HANCOM MDS last year. It will use these assets to aggressively expand into overseas markets through investment in and acquisition of companies with growth potential through the company’s global strategic initiative ‘HANCOM Alliance.’

HANCOM also plans to improve the quality of its businesses and establish a foundation for long-term future growth by actively pursuing the growth of its subsidiaries with high growth potential, such as the genetic analysis and digital healthcare company HANCOM Carelink and the travel startup MadX Company, and by actively restructuring the business portfolios of its subsidiaries.

HANCOM CEO Yeon-Soo Kim stated, “We will do our best in terms of business innovation, financial improvement, and transformation of corporate and organizational culture for HANCOM to achieve continuous growth in the difficult market environment.”

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SOURCE HANCOM

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