ESTsoft (CEO Jung Sang-won) has started to see visible results from its AI-based new business initiatives.

The company has been constantly conducting AI technology research since before the outbreak of COVID-19, since the year 2015. Currently, all five subsidiaries including ESTsoft are expanding their new businesses by incorporating AI. In the second half of the year, subsidiary ZUMinternet is expected to officially launch its 'Project Vanilla' MTS, which is currently in beta testing, and new business initiatives are expected to be more actively unfolded.

According to the Financial Supervisory Service's electronic disclosure system on the 26th, ESTsoft's sales and operating profit for the first half of the year were 43.5 billion won and 4.6 billion won, respectively, up 13% and 207% from the same period last year.

A company official explained, “The sustained growth of existing businesses such as software, security, and games, coupled with tangible sales results from AI-based new businesses like asset management and eyewear commerce, achieved a cumulative surplus for the first half of the year.”

The most noticeable part of ESTsoft's business in the first half of the year is unmistakably the AI-related business. In fact, AI-focused business initiatives were conducted, including △ the release of ‘PaintShop Pro 2021 for ALTools’ with added AI photo editing features △ provision of AI glasses virtual fitting service △ development of AI instructors.

Looking at the sales by item, the internet software, internet portal, and asset management sectors performed well. First, the rebound in internet software sales, which accounts for the largest portion of ESTsoft sales, is notable.

The company's internet software sales remained around 24 billion won until 2019. Looking at the sales trend of this business over the past four years, it shows △2017: 24.5 billion won △2018: 23.4 billion won △2019: 23.9 billion won △2020: 32.9 billion won, exceeding 30 billion won for the first time last year.

An expansion in sales from new businesses such as security software, AI virtual human business, and consulting services offering AI as SI solutions positively influenced the sales.

Particularly, the AI virtual human (digital human) business is receiving attention in the industry. ESTsoft's AI Research Center 'AI Plus Lab' holds the core technology for creating 'virtual humans' based on AI voice and video learning technology.
Last April, the AI anchor developed through this technology was introduced on the regular news broadcast of domestic news channel YTN. Currently, regular broadcasting is not happening, and technological enhancement is underway based on live trials.
In addition, in collaboration with Hoonet, the company has also embarked on developing AI instructors. As the global Edtech market is growing, it is predicted that there will be high demand for AI instructors in the future.

In June, the company launched the beta service of 'Project Vanilla' MTS of securities firms. This utilizes AI technology and big data owned by the subsidiary ZUMinternet. The IOS version is expected to launch soon, with the official service scheduled for later this year.

On the other hand, the commerce sector is the only new business that saw a slight decrease of 1.4% compared to the same period last year, recording sales of 2.8 billion won. However, according to the company official, the quality of sales has improved. While sunglass sales were traditionally high, the increase in eyewear sales has led to more customers using AI virtual fitting.

An ESTsoft official said, "Since 2015, we have been focusing on the research and development of AI core technologies, and we have completed technical preparations to welcome the upcoming metaverse era with virtual humans like AI announcers and instructors, and AR-based virtual fitting. We will continue to introduce services based on these technologies to grow into the leading AI service company in the country," the official added.