[Click eStock] "ITCEN, Harmonious Growth of Existing and New Businesses"
On the 22nd, SK Securities analyzed that ITCEN is capable of harmonious growth between its existing and new businesses.
ITCEN operates IT system development and construction, as well as system infrastructure maintenance businesses together with its major affiliates and listed companies, Comtec Systems and Ssangyong Information & Communications. It generates steady maintenance revenue based on a stable market share in sectors such as public institutions, finance, and education.
Na Seungdoo, a researcher at SK Securities, stated, “By acquiring Korea Gold Exchange 3M, the company has expanded its sales scale and secured an additional cash cow. This year, growth is expected as it can provide comprehensive H/W and S/W solutions necessary for cloud environment implementation together with Comtec Systems, which is responsible for cloud infrastructure construction, and Ssangyong Information & Communications, which owns cloud-exclusive SaaS solutions.”
Furthermore, growth in the token securities (STO) business sector is also anticipated. Researcher Na explained, “On the 17th, news was released through the media about the formation of an STO business council between Hana Securities and ITCEN. As STO has emerged as the hottest topic in the financial sector, securities firms are continuously promoting STO-related businesses and various collaborations. However, it is necessary to view the STO market from the perspective that STO is ultimately a type of security.”
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He added, “It means that it is important whether the underlying assets issuing the STO truly have investment value and whether trading can be sufficiently activated (from the perspective of investor protection). Therefore, if assets that already have sufficient investor interest and market formation, such as gold and silver, are tokenized as securities, a smooth landing is expected. This will lead to an increase in the value of Korea Gold Exchange (Digital Asset), which ITCEN owns.”
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