WiseAitek Reports Operating Profit of 5.7 Billion KRW Last Year, Up 56% Year-on-Year

[Asia Economy Reporter Park Jihwan] Wise AITech, a company specializing in AI and big data, achieved an operating profit increase of 56% compared to the same period last year.

Wise AITech announced on the 7th that it recorded sales of 34.064 billion KRW, operating profit of 5.743 billion KRW, and net profit of 4.035 billion KRW last year. Compared to the same period last year, sales, operating profit, and net profit increased by 37%, 56%, and 20%, respectively.

In particular, operating profit showed a high growth rate with an average annual growth rate of 53% over five years from 2017 to last year. Sales and net profit also set record highs last year.

The company stated that the increase in sales in the big data business sector was mainly due to a steady increase in customers adopting the big data analysis tool WiseIntelligence. The AI business sector also achieved remarkable growth of 133% compared to the previous year, reaching the highest annual performance since the company's establishment.

Kim Jonghyun, CEO of Wise AITech, said, "We were able to achieve the best-ever performance last year thanks to the continuous growth of the existing cash cow, the big data business, as well as the explosive growth of the AI business sector. Starting this year, we will also focus on the new metaverse business as a pillar of our development and grow into a global company specializing in AI and the metaverse."

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