Truen CEO Ahn Jaecheon Buys More Company Shares... "Strengthening Responsible Management"

Ahn Jae-cheon, CEO and Truen's largest shareholder, continued his commitment to responsible management by purchasing additional shares in the company. The company said the move demonstrated his personal commitment to enhancing corporate and shareholder value as its AI video security business grows, particularly in overseas markets.

Truen announced on October 14 that Ahn had purchased 14,509 common shares on the open market, according to a disclosure. Following the purchase, his holdings rose to 2,775,359 shares, representing a 26.51% stake.

Ahn made the additional purchase after buying company shares on the open market earlier this year. The company said Ahn, its largest shareholder and CEO, is reinforcing responsible management and working to enhance shareholder value, based on his confidence in the company's medium- to long-term growth potential and corporate value.

Truen has recently expanded its business, focusing on high-end on-device AI cameras and its video analytics software, TAEM (Truen AI Event Manager). In particular, exports have increased amid a growing shift away from Chinese video security products in overseas markets, including the United States, Germany and India.

Truen's total export revenue in the second quarter rose 176.5% year over year. Overseas revenue from its flagship IP cameras surged 270.5% over the same period.

In South Korea, growing interest in video data security is raising the potential for increased demand for locally made AI CCTV systems. Reports that the number of Chinese-made CCTV cameras operated by the military has recently surpassed 1,000 have prompted concerns about security issues, including the potential leakage of video data, and strengthened calls to expand the use of domestically made video security equipment.

The government is also pushing to transition public CCTV systems to AI. A project to equip public CCTV systems with domestically made neural processing units (NPUs) is underway this year. Efforts are also expanding to establish intelligent monitoring systems that use AI to analyze CCTV footage collected by local governments and detect disasters, crimes and unusual situations in advance.

As Truen develops and supplies AI cameras and video analytics solutions based on its proprietary technology, it expects growing demand at home and abroad to replace Chinese-made video security products to drive business growth.

A Truen representative said, "Our accumulated AI expertise in the domestic video security market is helping us earn recognition for our product competitiveness in overseas markets, and global sales are also increasing. We will focus on turning this momentum into tangible growth for the company and enhancing corporate and shareholder value."

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