– Hancom’s 3Q consolidated sales and operating profit increased by 60% and 464% YoY respectively
– Successfully established a full office lineup of PC-Mobile-Web, equally competing with Microsoft overseas
– Cloud-based web office increased rapidly by telecommuting and online school classes
As the need to create documents at home increased due to working from home and starting school online triggered by COVID-19, the number of users of Hancom Office and cloud program, and also the IoT platform, increased drastically, making it hit the 2Q and 3Q consecutive sales of 100 billion won.
Hancom’s 3Q consolidated sales was 102.1 billion won and operating profit was 13.4 billion won, which is an increase of 60% and 464.8% respectively from the same period last year.
In this issue, we looked into the achievements and major activities of Hancom Group in 2020.
Hancom Group, which has been reevaluated as the company receiving attention in Industry 4.0, has 15 affiliates including Hancom Lifecare, Hancom MDS, and Hancom With possessing the best technology in each field. Hancom has succeeded in establishing a full office lineup ranging from PC-mobile-web based on the technology that has been protecting the Korean market by competing with Microsoft for a long time, and based on this, it is regarded even in the global stage as the only company that can compete with Microsoft. Also, Hancom Group is leading technological innovation in key areas of Industry 4.0, such as loT platforms, AI, robots, drones, and blockchains, in addition to its main fields of office software and cloud.
Especially, Hancom Group is accelerating the expansion of AI business by establishing a joint venture specialized in AI called Accufly.AI with iFLYTEK, one of the four major AI companies in China, based on AI interpretation/translation and voice recognition technology. This year, to contribute to the prevention of COVID-19, it developed the AI call center technology Hancom AI Check 25 and supplied to major local governments nationwide such as Seoul, Gyeonggi, Daegu and Jeonju for free. Hancom AI Check 25 is a service that allows you to call people under self-quarantine and those entering from foreign countries to ask about their health status, and converts their voice responses into data. It is evaluated that it has contributed greatly in reducing the overload of manpower caused by an emergency disaster situation by completing tasks that would take 10 days (based on 8 hr/day work) in just two hours. In line with post-coronavirus era, Hancom plans to expand and supply AI call center technology to finance, medical, public, and education fields in the future.
Hancom Lifecare, a personal safety equipment company acquired by Hancom Group in 2017, is the no. 1 personal safety equipment company in Korea, and it is growing continuously by launching new products made by integrating Hancom Group’s ICT technology and starting new businesses. The company, which has an overwhelming market share in the air respirator market for firefighting in Korea, recorded 44.9 billion won in sales and 6.5 billion won in operating profit in the third quarter of this year. This is an increase of more than 300% in both sales and operating profit compared to the same period last year. Since September when the export restriction has been eased, Hancom Lifecare is fully expanding its exports to Germany and Australia as well as Southeast Asian countries like Hong Kong, Singapore, the Philippines, and Indonesia.
Hancom Group recently completed the acquisition of the Gold Exchange, and is planning to introduce a service that combines real assets and blockchain. Through this, it plans to lead the digitization and popularization of digital assets, and develop various new businesses in connection with gold transactions. Also, it signed a business agreement with DJI, the world’s no. 1 drone company, and is actively promoting drone education projects by establishing a cooperation system with domestic and foreign drone companies. Also, in September of this year, the company plans to expand its business to the drone-using service market and aerospace sector by acquiring Hancom InSpace (formerly InSpace), a space and drone specialist.
Hancom Group also started the senior healthcare business with ICT technology by introducing the day care center brand Hancom Malangmalang Happy Care. It provides recognition-training dementia prevention VR developed by Hancom With for the elderly who are digitally underprivileged and smart healthcare service by using the program made with Hancom Robotics’ AI robots. Hancom Group’s strategy is to take lead in the fast-growing senior industrial market with its business.
Hancom Group is pursuing cooperation with Naver and NHN as actively introducing smart work environment due to the COVID-19 pandemic. Hancom Group has linked various Hancom services like Hancom Viewer to the Naver Whale browser, and the joint Hancom-Naver-Sigong Group is also participating in the project to build the futuristic teaching and learning support system with Gyeongsangnam-do Education Office. With the aim of establishing a cooperative system linking the two companies’ cloud services with NHN, Hancom’s web office Hancom Office Web was installed in NHN’s cloud collaboration platform TOAST Workplace Dooray!
In the future, Hancom Group plans to secure stronger competitiveness by expanding its own technology by continuously discovering new growth engines and actualizing new businesses in progress. With this, Hancom will focus on expanding users of cloud-based web offices, while simultaneously targeting the domestic and overseas markets in line with the global trend of the untact expansion.
Last July, Hancom Lifecare gained a reference for supplying quarantine masks to Washington State and Seattle without FDA approval for the first time in the United States. With this reference, it is planning to introduce its quarantine suits to the overseas market. Also, it is planning to continue its growth by receiving orders for its flagship products, air respirator for firefighting and military K5 gas mask.
Besides this, based on the drone set technology of InSpace, Hancom Group built AI drone service platform by integrating various element technologies such as IoT, autonomous driving, and block chain owned by Hancom Group. It is planning to contribute to the realization of smart cities by local governments and governments with the intelligent drone service.
Hancom is based in Pangyo. Pangyo Technovalley is the Asia Tech Hub where more than 1,200 companies in IT, CT, and BT sectors with innovative products and technologies are gathered. Located just south of the Seoul metropolitan area, easy transportation access and infrastructure provides the best environment for Korean companies to conduct businesses.
Various high-tech companies are located here, with more than 64 thousand full-time workers with a vast majority in their 20s and 30s. By industries, companies in the high-tech industry are made up of IT companies, content technology companies, biotechnology companies, and nanotechnology companies.
With the support from innovative companies with global capabilities like Kakao, NHN Entertainment, AhnLab, Krafton, NCSOFT, Nexon, and Hancom at hand, companies in Pangyo Technovalley made over 100 trillion in revenue this year. A 20% increase from last year, it is expected to become one of the best IT clusters in Korea in near future, along with advanced technology research institutes like Advanced Institute of Convergence Technology, KAIST, ETRI, and KETI working together to develop the relevant technologies further.