[Click e-Stock] "Seoul Credit Rating & Information Accelerates Digital Finance Expansion with AI and STO"

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On March 18, Hana Securities analyzed that Seoul Credit Rating & Information is simultaneously pursuing improved performance and enhanced corporate value, based on cost efficiency and the expansion of digital finance. In addition to its competitive edge in credit data-based business, the company is accelerating its efforts to enter the AI model and Security Token Offering (STO) markets, raising expectations for mid- to long-term growth.

Seoul Credit Rating & Information is the only comprehensive credit information services company in Korea. Its core demand comes from corporate finance, financial, and public sectors, with business operations centered on credit assessment, credit inquiry, credit investigation, and debt collection. Through its subsidiary, Seoul Credit Rating, it also provides credit rating services for CP, ABS, and electronic short-term bonds.

Key services include the personal comprehensive credit management service "SIREN24," corporate credit rating assessment "BIZRATING," and technology credit evaluation "TCB." Its subsidiaries have expanded their business scope to include stock valuation, project finance, and restructuring assessment. Based on this business structure, the company posted clear growth in its provisional 2025 results: sales of 41.26 billion won (up 8.3% year-on-year), operating profit of 6.75 billion won (up 31.0%), and net profit of 8.09 billion won (up 142.4%).

Yugeon Han, a researcher at Hana Securities, commented, "The company has established a sophisticated model system based not only on advanced personal and business credit evaluation models, but also on data science." He added, "This serves as a solid market entry barrier and is the company's core competitiveness." He further explained, "Recently, the company has introduced AI-based professional evaluation models and is actively promoting cost efficiency and new business expansion."

The corporate credit evaluation sector is seeing improved profitability as it secures structural efficiency through automation. Growth drivers also include the increase in report unit prices and the expansion of evaluation subjects resulting from revisions to the technology finance guidelines. Han analyzed, "The corporate credit evaluation sector has achieved structural efficiency through automation, leading to higher profit margins, and secured sustainable growth momentum with higher report prices and an expansion in the number of companies evaluated."

Shareholder return policies are also being strengthened. Seoul Credit Rating & Information has steadily increased dividends, raising its DPS from 35 won in 2020 to 60 won in 2024, and is also conducting share buybacks and cancellations. In particular, with the decision to cancel approximately 355,000 treasury shares last February, the company is expected to see an increase in per-share value due to a reduction in shares outstanding. Additional cancellations remain a possibility.

The expansion into digital finance is another notable development. Seoul Credit Rating & Information has invested in the Nextrade-Musicow consortium, which received preliminary approval for an over-the-counter STO exchange, marking its participation in new business opportunities. Han predicted, "By participating in the STO business as part of its digital finance expansion strategy, the company will expand cooperative relationships focused on evaluation and data domains."

Future performance outlook remains positive. Han emphasized, "With the full-scale structural efficiency improvements and report price increases in the corporate credit evaluation sector, as well as the transition to a high-margin portfolio, sales are expected to reach 41.4 billion won and operating profit 7.5 billion won in 2025, and approximately 44 billion won in sales and 10 billion won in operating profit in 2026." He added, "Breaking away from a stable business domain and expanding into new digital finance areas will be a key factor in boosting the company's beta going forward."

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