Seoul: South Korean cybersecurity firm Ahnlab Inc. announced plans to invest 100 billion won (US$73.14 million) over the next three years to restructure its business with a focus on subscription-based services. This initiative was revealed during a press conference in Seoul where the company emphasized its goal to become an "artificial intelligence native" cybersecurity firm.
According to Yonhap News Agency, the company intends to allocate the investment towards building artificial intelligence (AI) infrastructure, enhancing research and development capabilities, and attracting AI-related talent. Ahnlab's Chief Executive Officer (CEO) Kang Suk-kyoon stated that the company aims to triple its sales from the current 300 billion won to 1 trillion won by 2035.
Kang Suk-kyoon explained that achieving this goal requires an average growth of 15 percent annually, which he believes is feasible considering the company's current growth trajectory. He also mentioned the possibility of pursuing mergers and acquisitions or new investments to facilitate scaling up.
Ahnlab is also planning to expand its overseas sales from 10 percent to 30 percent by 2035. As part of its international strategy, the company intends to establish a "cyber defense center" in the Middle East to meet the increasing demand for data and AI sovereignty in various regions.
Founded in 1995, Ahnlab is recognized as South Korea's largest cybersecurity company, known for its pioneering V3 antivirus software. The company reported sales of 130.37 billion won and operating profits of 7.3 billion won in the first half of the year, as per its regulatory filing.