ESTsoft achieved sales of 88.8 billion won in 2022, and 2023 is the first year to achieve performance in new businesses such as AI human.

Feb 27, 2023

New AI businesses more than doubled year on year, with AI human revenue coming through in earnest from Q4 2022

▲ ESTsoft summary results for 2022 (Provided by ESTsoft)

ESTsoft (047560, CEO Chung Sang-won), a company specializing in artificial intelligence (AI) services, announced in a preliminary results disclosure on the 28th that 2022 revenue reached KRW 88.8 billion on a K-IFRS consolidated basis. That is down 0.9% year on year, with operating profit and net profit swinging into deficit.

ESTsoft said the weaker year-on-year results reflected ▲a decline in PC traffic in the portal business amid changes in the external environment, ▲lower profit in asset management on a soft stock market and ▲higher personnel costs. It added that early investment in AI-based new businesses such as AI humans and eyewear virtual fitting commerce also weighed on profitability.

The new AI businesses, however, are growing quickly. AI human results in particular began to come through from the fourth quarter of 2022, driving full-year revenue from new AI businesses to more than double year on year. With AI human results reflected in earnest from the first quarter of this year, the company expects revenue growth and improved profitability to follow.

ESTsoft supplies the market with highly advanced AI humans close to live footage. In November last year it built a studio inside its headquarters for producing world-class high-definition (8K) AI humans; the studio's filming schedule for new AI humans is already booked out through the first half of the year. Since building the studio, ESTsoft has been expanding its AI human business portfolio across finance, education, healthcare and more. Notably, it produced Korea's first bilingual AI TOEIC instructor capable of speaking Korean and English with YBM, and held an exhibition with Getty Images Korea using moving AI images — bringing a range of AI human-based services to market quickly. More recently it also unveiled AI humans that run in real time.

Subsidiary ROUNZ, which runs the eyewear virtual fitting commerce business, achieved revenue growth of more than 30% year on year in 2022, and plans to expand its B2B business in earnest this year through the partner opticians secured over the past year. Partner opticians grew from around 280 in 2021 to about 600 today — more than doubling in a year — and the company is focusing on raising revenue and strengthening profitability through B2B on that basis.

Beyond the new AI businesses, the company expects the games, portal and asset management businesses, which underperformed in 2022 because of external conditions, to deliver a base effect of improved results in 2023 through new title launches and a better external environment.

An ESTsoft representative said: "Through a difficult year overall, we kept investing aggressively in new AI businesses to achieve our vision of being the leading service company built on AI technology," adding, "We expect 2023 to be the year that proves the growth and profitability of our new AI businesses alongside improved results in our existing ones."

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Interactive AI Avatar supports guidance, consultation, and interaction both offline and online. Expanding as a service hub without language barriers in retail, tourism, entertainment, exhibitions, manufacturing, and public sectors.
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Artificial intelligence multi-agent that goes beyond AI search and reaches solutions for problem solving
Education with AI
Expansion of educational businesses in various fields, such as the establishment of celebrity lecture video courses, production of TOEIC speaking educational content, and AI content as a fitness training instructor
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Implementing 'moving pictures' with EST AI technology, 'face transformation, makeup application, and clothing creation' through deep learning
Creating and utilizing various AI Avatar content such as new employee analysts, announcers, etc.
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We provide data and solutions utilizing AI through APIs to enable companies to focus on their intrinsic customer value.
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Background removal technology applied in ALSee Capture, like the smooth design of ESTsoft AI technology and ALTools products,
provides the utility environment that users want.

Global SaaS with AI
A scalable AI avatar SaaS service accessible from anywhere in the world utilizing AI technology
Senior care with AI
Interactive AI Avatar supports guidance, consultation, and interaction both offline and online. Expanding as a service hub without language barriers in retail, tourism, entertainment, exhibitions, manufacturing, and public sectors.
Alan Agentic with AI
Artificial intelligence multi-agent that goes beyond AI search and reaches solutions for problem solving
Education with AI
Celebrity instructor video lecture creation, TOEIC speaking education content production, as a fitness training instructor
Expansion of educational businesses in various fields such as AI content
Content with AI
Implementing 'moving pictures' with EST AI technology, 'face transformation, makeup application, and clothing creation' through deep learning
Creating and utilizing various AI Avatar content such as new employee analysts, announcers, etc.
API business with AI
We provide data and solutions utilizing AI through APIs to enable companies to focus on their inherent customer value.
Software with AI
Background removal technology applied in ALSee Capture, like the smooth design of ESTsoft AI technology and ALTools products,
provides the utility environment that users want.

Senior care with AI
An expandable AI avatar SaaS service accessible from anywhere in the world utilizing AI technology
Senior care with AI
Interactive AI Avatar supports guidance, consultation, and interaction both offline and online. Expanding as a service hub without language barriers in retail, tourism, entertainment, exhibitions, manufacturing, and public sectors.
Alan Agentic with AI
Artificial intelligence multi-agent that goes beyond AI search and reaches solutions for problem solving
Education with AI
Celebrity instructor video lecture creation, TOEIC speaking education content production, as a fitness training instructor
Expansion of educational businesses in various fields such as AI content
Content with AI
Implementing 'moving pictures' by applying EST AI technology, producing various AI Avatar contents such as 'face transformation, makeup application, and clothing creation' for new employees including analysts and announcers, and utilizing them
API business with AI
Companies can focus on their inherent customer value by providing data and solutions using AI
as an API.
Software with AI
Background removal technology applied in ALSee Capture, like the smooth design of ESTsoft AI technology and ALTools products,
provides the utility environment that users want.