Korea Corporation Strengthens Client Management for 5 Consecutive Months of Profit... "Confident in Resuming Transactions"

[Asia Economy Reporter Jang Hyowon] Korea Corporation announced that it has recorded a profit streak for five consecutive months this year.

Korea Corporation, a KOSDAQ-listed company that has strengthened customer management, announced on the 2nd that according to its own analysis, it is expected to record operating profit for five consecutive months.

Korea Corporation succeeded in turning a profit in the first quarter settlement and conducted its own simulations for April and May. The investigation showed that maintaining profitability is certain, effectively achieving five consecutive months of profit.

Chosungwan, CEO of Korea Corporation, said, “We have become even closer by overcoming the COVID-19 pandemic together with more than 100 client companies,” adding, “The strategy of maintaining existing clients and attracting new ones has been effective, and the company has become stronger with an expected five consecutive months of profit. If necessary, we plan to disclose visible operating results.”

Korea Corporation’s continuous operating profit streak was already anticipated since the fourth quarter of the previous year. Sales in the fourth quarter of 2019 increased by 17% compared to the same period the previous year, and the deficit, which was around 2 to 3 billion KRW per quarter, was significantly reduced to about 700 million KRW.

In the first quarter of this year, the operating loss of 3.77 billion KRW in the same period last year successfully turned around to an operating profit of 660 million KRW, an improvement of approximately 4.44 billion KRW.

Since the improvement of management indicators for companies with suspended stock trading greatly affects the judgment of whether the company continues as a going concern, the company explained that efforts to resume trading early will also accelerate.

Meanwhile, as telecommuting and remote work have spread to prevent COVID-19 cluster infections, inquiries about Korea Corporation’s cloud solutions have significantly increased, which is positive. In the case of call centers, large-scale facility investments are required, but since the number of counselors is flexible, interest in cloud contact centers, which can reduce initial investment costs, has increased.

A company official said, “Companies that were denied audit opinions last year are gradually resuming trading as they receive appropriate audit opinions,” adding, “Our company is also showing strong sales and has secured large-scale funds, so we plan to do our best to resume trading as shareholders desire.”

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