Hanwha Securities Benefits from 'Douzone Bizon' Amid Increased Non-Face-to-Face Work Due to COVID-19

[Asia Economy Reporter Lim Jeong-su] Hanwha Investment & Securities has identified Douzone Bizon, a B2B platform company listed on the Korea Composite Stock Price Index (KOSPI), as a beneficiary of COVID-19. They analyzed that demand for enterprise software will increase due to the activation of remote work and flexible work systems.

On the 25th, Kim So-hye, a researcher at Hanwha Securities, stated in a report, "Douzone Bizon supports all business systems of companies through the cloud-based enterprise resource planning (ERP) platform 'WEHAGO'," and predicted, "As the non-face-to-face work environment becomes full-fledged, the base of Douzone Bizon, the industry leader, will expand."

According to the report, Douzone Bizon succeeded in converting about 2,500 of the existing 12,000 'WEHAGO' user IDs to the new platform 'WEHAGO T,' which was launched in the second half of last year. The speed of platform conversion is likely to accelerate ahead of the settlement reporting period from March to May.

Researcher Kim said, "With the development of networks and diversification of services, the work environment has changed, and B2B business has also become advantageous in generating profits by increasing customer loyalty," and added, "There is high growth potential for the non-face-to-face industry even in the B2B sector."

Meanwhile, Douzone Bizon achieved its best-ever quarterly performance in the fourth quarter of last year, with consolidated sales of 77.4 billion KRW and operating profit of 24.3 billion KRW.

This content was produced with the assistance of AI translation services.