[Click eStock] "Polaris Office, Turnaround with Platform Enhancement and New NFT Business"

[Asia Economy Reporter Jang Hyowon] Hanyang Securities analyzed on the 3rd that Polaris Office is expected to undergo a full-fledged turnaround through its new NFT business. No separate investment opinion or target price was presented.

Polaris Office provides cloud services based on its main service, Polaris Office, and has shown continuous growth alongside an increasing number of subscribers. In the first half of this year, it recorded 110 million global subscribers and boasts excellent office software based on outstanding document compatibility and references. It also supplies mobile security solutions and collaboration solutions to client companies, and through its subsidiaries, has released self-developed mobile games in Korea, Taiwan, and Japan.

Kim Yongho, a researcher at Hanyang Securities, said, "Following the COVID-19 pandemic, the popularization of remote work caused a surge in users, with the number of paid subscribers increasing from around 40,000 in 2019 to 70,000 in the first half of this year. Especially, the subscription increases from last year are reflected this year, so a significant performance rise in 2021 is expected."

He continued, "Based on a large-scale network, the company is planning to build a platform, with OTT and commerce scheduled to launch within the office in the fourth quarter. Currently, discussions are underway with several partner companies, and through this, it is expected to increase users' actual dwell time and generate additional advertising revenue beyond commissions."

The most anticipated event is that Polaris Office will be installed on Naver Whale Book. Since Naver is promoting the supply of Whale Books to education offices, it is expected not only to receive commissions but also to attract new subscribers through enhanced exposure.

Expectations for the new NFT business were also emphasized. Researcher Kim said, "The document sharing platform is expected to be further strengthened using blockchain technology. The subsidiary responsible for the game division is expected to improve profitability by integrating NFTs into existing games."

He also stated, "As the global P2E (Play To Earn) craze begins and related companies are gaining attention, the company is also preparing to launch games, so it seems necessary to expand interest."

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