Hancom Sets 200 Billion Won Revenue Target for 2024... "Expanding AI Business"

Hancom Inc. has set a target this year to surpass 200 billion won in standalone revenue.

On April 20, Hancom announced its management goals for the year, aiming for standalone revenue of 210 billion won and operating profit of 60 billion won. This represents increases of 20% and 18%, respectively, from last year’s standalone revenue of 175.3 billion won and operating profit of 50.9 billion won.

Hancom plans to increase sales from its B-Office division to account for up to 50% of total revenue. The company will build on its stable cash-cow business model, which is centered on traditional installed software packages, by adding AI, cloud, and software-as-a-service offerings.

Through its overseas business, Hancom is expanding its scope from a domestically focused office software company to an exporter of AI-powered application services. In the Japanese market, the company is expanding its non-face-to-face identity verification (eKYC) business and localizing biometric authentication-based services to match the regulatory framework of Japanese financial institutions and the public sector.

The company is also advancing its AI orchestrator strategy, which connects various AI agents to optimize enterprise work environments. Hancom aims to increase the proportion of annual recurring revenue (ARR) to reduce performance volatility and to shift its valuation framework from that of a traditional package software company to that of a platform company. This service is scheduled for launch in the first half of this year.

Yeonsu Kim, CEO of Hancom Inc., said, “Achieving 200 billion won in standalone revenue and raising the proportion of non-office sales to 50% will be a strong signal that Hancom is no longer just an office software provider.”

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