FREET Changes Name and Pursues Nuclear Energy Business... Maximizing Profitability Through Restructuring of Loss-Making Operations

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INSKOBI has changed its name to FREET Co., Ltd. (FREET) and is pursuing a new growth strategy by restructuring its business portfolio and entering the nuclear energy sector.

FREET plans to strengthen its foundation in the mobile virtual network operator (MVNO) and smart grid businesses, which have already secured stable revenue streams, while fostering nuclear-related businesses as a new growth engine.

The company has set a goal of achieving annual sales of 120 billion won and operating profit of 10 billion won through ongoing business restructuring, aiming to establish a stable profit base.

To this end, FREET is undertaking a comprehensive reorganization of inefficient and loss-making businesses that have hindered performance improvements. The company is determined to enhance management efficiency and reinforce financial soundness by discontinuing operations with low profitability or limited growth potential.

The cost savings and resources secured through restructuring will be focused on investments to expand competitiveness in both nuclear energy businesses and the company's core existing operations.

In particular, among its new business areas, FREET plans to prioritize the field of medical waste treatment utilizing nuclear technology. The company aims to develop this business into a new source of revenue over the mid to long term, establishing it as a foundation for future growth.

A FREET representative stated, "This name change and business restructuring mark an important inflection point that will eliminate unprofitable factors and transform us into a high-growth, profit-oriented company. By adding nuclear-related new businesses to our stable MVNO and smart grid operations, and boldly discontinuing loss-making businesses, we will achieve our sales target of 120 billion won and operating profit of 10 billion won this year."

With the name change, FREET is seeking to leap forward as an eco-friendly energy and high-value-added technology company by combining nuclear technology with its capabilities in telecommunications and energy-based businesses.

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