Hyundai AutoEver Performs Well Amid COVID-19... H1 Operating Profit Up 9.8% YoY

Hyundai AutoEver (Photo by Hyundai AutoEver)

[Asia Economy Reporter Kim Ji-hee] Hyundai AutoEver announced on the 31st that despite the COVID-19 pandemic, its operating profit in the first half of this year increased by 9.8% compared to the same period last year, reaching 37.9 billion KRW. During the same period, sales rose by 0.6% to 719.8 billion KRW.

Looking at the performance by business division in the first half, system integration (SI) business sales amounted to 311.6 billion KRW, down 5.5% from the previous year, while IT outsourcing (ITO) business sales increased by 5.9% to 408.2 billion KRW.

A Hyundai AutoEver official stated, "As Hyundai Motor Group's digital transformation accelerates, we were able to maintain sales growth in the first half through projects such as developing car-sharing platforms in North America and Europe and cloud service projects. Additionally, the business mix improved as the sales proportion of the relatively profitable ITO division increased, and operating profit rose compared to the same period last year due to factors such as remote work and social distancing."

Hyundai AutoEver expects that the acceleration of digital transformation in the automotive industry, driven by Korea's New Deal policy, will also contribute positively to its performance.

Hyundai AutoEver plans to actively promote strengthening the data, network, and artificial intelligence (D.N.A) ecosystem, fostering non-face-to-face industries, and digitalizing SOC.

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