[Click eStock] "Hancom, AI Business Achievements Accelerate... Cloud Growth Continues"

by Jang Hyowon

Published 12 Mar.2025 13:32(KST)

[Click eStock] "Hancom, AI Business Achievements Accelerate... Cloud Growth Continues"

NH Investment & Securities analyzed on the 12th that Hancom is beginning to see tangible results in its artificial intelligence (AI) business.

Shim Eui-seop, a researcher at NH Investment & Securities, stated in a report on the same day, “Although uncertainties in AI new product orders expanded due to year-end political turmoil, the company recently succeeded in securing its first order,” adding, “Based on this achievement, AI business results are expected to continue expanding.”

Last year, Hancom raised expectations for its AI business by launching the AI-based Q&A solution ‘HancomPedia’ and the generative AI ‘Hancom Assistant.’ However, political issues at the end of the year created uncertainties in securing public sector projects.

Nevertheless, Hancom officially began showing AI business results by receiving high scores and successfully securing its first order in the ‘National Assembly Big Data Platform (AI National Assembly) Construction Phase 1 Project.’ Researcher Shim evaluated, “This achievement will serve as a stepping stone to continuously expand order results.”

Hancom’s AI solutions support language models in various environments such as cloud and closed networks, and can utilize data without restrictions on document file extensions. Accordingly, the company is pursuing entry not only into the public sector but also into private and overseas markets. Researcher Shim stated, “It is a good time to have renewed expectations for the company’s AI business results.”

Hancom’s earnings growth is also expected to remain solid. Along with AI business results, the expansion of sales in cloud-related products is anticipated to positively impact core business growth. Benefiting from the digital transformation in the public sector since last year, Hancom’s cloud sales ratio has sharply increased, and this trend is expected to continue this year. Researcher Shim estimated, “Operating profit on a separate basis is projected to increase by 17.8% year-on-year to 58.6 billion KRW this year.”

Additionally, Hancom is continuously pursuing a business portfolio restructuring to strengthen consolidated earnings. Until last year, the company planned to sell its subsidiary Hancom Lifecare but recently withdrew this plan. Regarding this, Researcher Shim analyzed, “The company is focusing on expanding profitability-centered businesses and improving management efficiency, which is expected to reduce volatility in consolidated earnings,” adding, “With AI business results gradually becoming more substantial, there are many reasons to expect good performance and shareholder return policies from various perspectives.”