Gaon Media Reports Operating Profit of 8.5 Billion KRW in Q1... 'Record High for Q1'

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[Asia Economy Reporter Lee Myunghwan] Gaon Media announced on the 27th that its operating profit for the first quarter of this year reached 8.5 billion KRW, the highest quarterly figure ever.

Through a preliminary earnings announcement on the same day, Gaon Media stated that its consolidated operating profit for the first quarter increased by 19% compared to the same period last year. It added that sales rose 20% year-on-year to 145.2 billion KRW, and net profit for the period increased by 70% to 10.2 billion KRW. The operating profit is the highest ever recorded for a first quarter, and the net profit is the highest among all quarters to date.

A Gaon Media official explained that despite ongoing external uncertainties such as rising global logistics costs and raw material prices, the company achieved strong results through strategic sales activities. In particular, its subsidiary Gaon Broadband significantly drove profitability by expanding sales to the North American market.

Gaon Media is accelerating new business initiatives that it has proactively prepared, led by its new CEO. The subsidiary 'K-Future Tech,' launched after the appointment of new CEO Lim Dong-yeon, is delivering results in the public sector with a focus on the extended reality (XR) business. On the 6th, it filed key technology patents related to autonomous driving robots.

A Gaon Media official stated, "We will not only achieve stable performance in existing businesses but also secure future growth engines through new businesses and enhance the group's overall value," adding, "Starting with the mid- to long-term shareholder return policy announced on the 1st, we will strive to practice responsible management and increase sustainability through various activities."

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