Kim Sang-cheol, Chairman of Hancom Group, Takes on New Challenges... Transforming into an AI and Blockchain Company

Gold Exchange Acquisition and Gesture Recognition Technology Secured, Expanding New Businesses Continuously

Sangcheol Kim, Chairman of Hancom Group

[Asia Economy Reporter Jin-gyu Lee] Hancom Group (hereinafter Hancom Group) is accelerating its efforts in artificial intelligence (AI) and blockchain, moving away from its traditional core business, Hancom Office. This follows Chairman Kim Sang-cheol's declaration at the beginning of the year that "Hancom Group will transform from a software company into an AI and blockchain company."

According to Hancom Group on the 18th, Hancom With, a subsidiary of Hancom Group, has acquired a gold exchange and is expanding blockchain-based services. Hancom With acquired shares in the gold exchange 'Seonhak Gold U.' Kim Ki-young, Executive Director of Hancom With, has been appointed as the new CEO of Seonhak Gold U. Established in 2005, Seonhak Gold U is a company specializing in the export of gold coins, mainly producing 99.99% pure gold coins and necklaces.

Hancom Group's acquisition of the gold exchange is aimed at expanding its blockchain business. Hancom Group stated, "We will create new added value by applying blockchain technology to gold trading," adding, "We are keeping all possibilities open and exploring specific business directions." Founded in 1999, Hancom With is a blockchain solution company that also handles businesses such as smart cities, PKI certification, mobile security, integrated key management, data encryption, healthcare, and drones.

Hancom Group is also accelerating its AI business. Following last year's launch of the AI translation device rental service 'Malang Malang Genie Talk Go!' for foreign tourists, since March, the AI call center solution 'Hancom AI Check25' has been used to monitor COVID-19 self-quarantined individuals, demonstrating its prominence not only in the office software (SW) sector but also in AI. Within Hancom Group, Hancom MDS focuses on AI and the Internet of Things (IoT) as its main businesses. Since the 10th, Chairman Kim has taken direct charge as CEO of Hancom MDS, leading Hancom Group's AI business. Recently, Hancom MDS signed a partnership agreement with Motion Gestures, a Canadian gesture recognition software company, securing gesture recognition technology and planning to enter the domestic contactless service market. Hancom Group has also signed a business agreement with LG Sangsa to collaborate on expanding these AI businesses into global markets such as Southeast Asia.

There is an assessment that Chairman Kim's strong will is reflected in Hancom Group's push for new technology businesses. In January, at 'CES 2020' held in Las Vegas, USA, Chairman Kim stated, "Hancom Group will transform from a software company into an AI and blockchain company," emphasizing, "Especially blockchain is a new trend that will replace the internet," expressing his determination for new business.

Hancom Group is also expanding its drone and quarantine businesses. Last month, Hancom Group partnered with 130 drone training centers nationwide, entering the domestic drone education market. Its subsidiary Hancom Lifecare, which started the quarantine mask business as a new venture last year, benefited from the COVID-19 situation, recording sales of 20.2 billion KRW in the first quarter, a 161% increase compared to the same period last year, establishing itself as a cash cow business.

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