[Click eStock] "Hangul and Computer, Evolving into a SaaS Company"

Building Cyworld and B2C Platform... Expected Growth into Metaverse Marketing Platform
IBK Investment & Securities "Maintains Hangeul and Computer Target Price at 37,000 Won"

[Asia Economy Reporter Gong Byung-sun] Hancom has declared its transition to a Software as a Service (SaaS) company. It is expected to strengthen its business in the metaverse sector based on a business-to-consumer (B2C) model by operating a metaverse platform in the future.

According to IBK Investment & Securities on the 23rd, Hancom announced its evolution into a global SaaS company on the 22nd through a shareholder letter. The letter contained Hancom's future growth strategy and business direction.

First, Hancom Town plans to build a B2C platform together with Cyworld as a metaverse service. Cyworld Hancom Town, operated through a joint venture with Cyworld Z, is connected to Miniroom and is highly likely to grow into a metaverse marketing platform for corporate brands. It is also expected to conduct a non-fungible token (NFT) business using the Minimi service within Cyworld.

They will also target business-to-business (B2B) customers. The plan is to secure B2B customers through smart work services, including telecommuting and video conferencing. Hancom Office is preparing a new subscription-based service centered on the web. In Hancom Town, it is expected that video conferencing and Hancom Office document creation and sharing will be possible in a virtual office space based on 2.5D graphics. Additionally, leveraging the exclusive sales rights of NHN Dooray, with which they have a collaborative relationship, they plan to launch Hancom Sign, an electronic signature service, by the end of the year to offer a rich range of B2B services.

They are also expected to intensify their efforts to enter overseas markets. Urban Digital Marketing, a recently acquired digital marketing company, is expected to strengthen marketing not only domestically but also internationally as an Amazon Service Provider Network (SPN). Lee Seung-hoon, a researcher at IBK Investment & Securities, explained, “Hancom is expanding its developer center by providing its internal technology in the form of a software development kit (SDK),” adding, “They will further strengthen the global market through additional business with Amazon and mergers and acquisitions (M&A) with promising SaaS-related companies overseas.”

Accordingly, IBK Investment & Securities maintained its investment opinion of ‘Buy’ on Hancom with a target price of 37,000 KRW. The closing price on the previous day was 28,350 KRW.

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