Ice Cream Media Posts 23.9 Billion Won Operating Profit in First Half...Expands New Businesses
Expansion of AI Education and Caregiving Businesses
Ice Cream Media announced on the 19th that it will continue its upward performance trend from the first half of the year by expanding its education data-based artificial intelligence (AI) services and entering new business areas.
In the first half of the year, Ice Cream Media recorded sales of 92.5 billion won and operating profit of 23.9 billion won. Compared to the same period last year, sales increased by 18.5% and operating profit rose by 64.5%. Net profit for the current period was 34.5 billion won, up by 197.4% year-on-year. Ice Cream Media evaluated that the growth in core businesses, such as educational publishing and commerce, was the main driver of first-half performance.
Ice Cream Media is strengthening its shareholder return policy. In line with its policy to pay out 40% of net profit as a cash dividend, the company decided on August 7 to pay an interim dividend of 1,083 won per share, totaling 13.8 billion won. It also decided to establish a trust to repurchase treasury shares worth 5 billion won. Of the repurchased shares, 70% are scheduled to be cancelled. The company stated that it plans to continue implementing policies to enhance shareholder value going forward.
In addition to its core businesses of educational publishing, commerce, and training, Ice Cream Media is also expanding into AI education services and new business areas. It is accelerating its push into the domestic and international education markets with: ▲ the tailored AI platform for schools 'issamGPT'; ▲ the AI work support service for early childhood educators 'KinderBoard'; and ▲ the global AI edtech lesson platform 'LumiTeach'. The company is also seeking to expand into caregiving environments based on the demonstrated results of its cognitive art program specialized for seniors, 'KeulimYakbang (GeurimYakbang)'.
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Junwoo Hyun, CEO of Ice Cream Media, said, "Our first-half results are the product of steady growth in our core businesses, such as educational publishing and commerce." He added, "In the second half, we will fully launch our AI educational services and new businesses, striving to enhance both growth and profitability."
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