Korea Center Reports 302.9 Billion KRW in Sales Last Year..."Powered by Untact"

[Asia Economy Reporter Hyunseok Yoo] Korea Center, a specialist in untact e-commerce, announced on the 2nd that it recorded consolidated sales of 302.9 billion KRW and operating profit of 18.5 billion KRW last year. This represents an increase of 20.4% in sales, 72.0% in operating profit, and 135.8% in net profit compared to the previous year.

Last year, EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) reached 31.4 billion KRW, a 50.1% increase from the previous year. Korea Center achieved its highest sales and operating profit since its founding, driven by explosive growth in shopping mall transaction volume and market-linked transaction volume due to the impact of COVID-19, increased overseas direct purchases, and major consumption seasons such as Guanggunje, Black Friday, Cyber Monday, and Boxing Day.

This year, shopping mall transaction volume and market-linked transaction volume are expected to continue growing steadily. The company plans to accelerate business advancement while expanding its unique global logistics network by adding logistics centers in France and Australia and strengthening partnerships with global companies.

Last year, sales by business segment showed that the MakeShop platform, responsible for domestic business, recorded sales of 89.7 billion KRW, a 44.7% increase compared to the previous year. Shopping mall transaction volume and market-linked transaction volume continued to grow by 12.4% year-on-year to 9.2931 trillion KRW, and the MakeShop platform’s advertising business also boosted sales and operating profit with a 205% increase compared to the previous year.

The Moltail platform, responsible for overseas business, recorded sales of 182.1 billion KRW, with overseas direct purchase transactions including fulfillment growing 71% year-on-year to approximately 2.38 million cases. Based on logistics centers in nine locations across seven countries worldwide including the United States, China, Germany, the United Kingdom, and Japan, the direct purchase and fulfillment business has built a stable and advanced global logistics tech network over the past decade. Despite COVID-19, aggressive early investments led to the opening of logistics centers in Spain and an MD branch in Italy, which also contributed to securing inventory for the year-end consumption season.

The Enuri platform, responsible for big data and price comparison business, recorded sales of 31.1 billion KRW, a 21% increase compared to the previous year. With 944 million standardized product data and product data, which grew 103% compared to the previous year, the big data sales portion of Enuri platform’s revenue accounted for 37%, solidifying its position as the number one big data sales operator.

The price comparison segment grew 15.2% year-on-year to 1.1482 trillion KRW, driven by an increase in fresh products and convenience foods due to the untact trend. As large corporations’ online markets have recently entered the e-commerce market, competition is intensifying. In this environment, the competitiveness of Enuri platform’s big data business and price comparison is structurally strengthened, and the platform’s status is expected to rise further.

Kim Girok, CEO of Korea Center, said, "With the activation of the untact economy, demand from new and existing customers increased, resulting in balanced growth across shopping, advertising, fulfillment, and big data businesses." He added, "This year, we will create a synergy foundation by launching new e-commerce services with affiliates, and we will do our best to expand performance through business cooperation with global companies, expansion of global logistics centers, and advancement of logistics tech."

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