Plantynet Q3 Sales Reach 17.9 Billion KRW... "Committed to Proactive Technology Acquisition"

[Asia Economy Reporter Hyunseok Yoo] Plantynet announced on the 16th that it recorded consolidated sales of 17.9 billion KRW, operating profit of 1 billion KRW, and net profit of 1.6 billion KRW for the third quarter. Compared to the same period last year, sales increased by 5.0%, operating profit decreased by 35.1%, and net profit increased by 19.4%.

A company official explained, "Despite the difficult market environment, overall sales increased due to the growth of our subsidiaries PlantyM and the Taiwan branch. Although operating profit declined due to continuous R&D (research and development) investments to secure new growth engines, net profit significantly increased thanks to the equity-method gains from the venture capital subsidiary Albatross Investment’s fund management performance."

In particular, the subsidiary PlantyM showed significant sales growth despite the impact of COVID-19, which appears to be largely contributed by the expansion of media content business using digital signage in addition to the existing in-store music service. Expansion into various other areas is expected in the future.

Since July, Plantynet has partnered with "WhoWho & Company" to launch a harmful site blocking app for Army soldiers, aligned with the Ministry of National Defense’s policy allowing soldiers to use mobile phones after work. The app protects users from voice phishing, malicious smishing messages, and cyber gambling sites. Additionally, Plantynet developed the telecommunications equipment application solution "LANEBOW" in-house and supplies it to leading domestic telecom companies, showing efforts to expand service targets and develop new products.

Alongside this, to prevent the recurrence of the socially significant "Nth Room incident" this year, Plantynet collaborated technologically with the dark web cybersecurity specialist company "NSHC." They focused on strengthening competitiveness by securing technology, including obtaining patents related to smart TV video time control and harmful video filtering.

Kim Hoojong, CEO of Plantynet, stated, "We will maintain a unique position in the industry by proactively securing technologies such as AI in response to the changing market, and we will do our best to create an internet usage environment where all customers can use the service with greater peace of mind."

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