Security alerts spell gold for AhnLab

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Security alerts spell gold for AhnLab

Security firm AhnLab surpassed revenues of 10 billion won ($9.7 million) last year ― a first for a Korean software company. Up to now, most of the software industry has been occupied by foreign companies. The company said yesterday that increased profits were mainly due to technology leakages and viruses last year, which caused firms to beef up their security. Its sales were up by 14 percent year on year, amounting to 31.5 billion won, while profits were up by 155 percent, to 10.6 billion won. Operational profits were up by 104.3 percent to 10.2 billion won. “The growing online security market has been favorable for us, and we’ve seen increased sales of our vaccine programs,” an AhnLab official said. “This year, we are going to focus on developing new products and will try to expand into foreign markets,” he said. After the performance announcement, AhnLab shares rose 11.8 percent yesterday to close at 19,900 won. by Wohn Dong-hee
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