+ Resolved key agenda items, such as approval of financial statements and appointment of executive directors, on March 19th
+ Expanded data centers in Dongtan and Daegu (a public-private partnership) and expanded the GPUaaS business in earnest
+ Supports hyperautomation innovation for enterprise customers by leveraging Samsung SDS’s differentiated generative AI-based cloud services
Samsung SDS held its 40th Annual General Meeting at its Jamsil Campus (global HQ in Korea) on March 19th.
On that day, key agenda items were resolved, including the approval of financial statements, appointment of executive directors June-hee Lee and Ho-joon Lee, and approval of remuneration limit for directors.
Last year, Samsung SDS recorded a revenue of 13.8282 trillion won and an operating profit of 911.1 billion won. Additionally, the company’s key businesses – cloud and digital logistics – continued to grow steadily.
Notably, the revenue from the cloud business was 2.3235 trillion won, recording a 24% growth over the previous year. It has expanded to become a major business, accounting for over 37% of the company’s IT service business.
Additionally, Samsung SDS highlighted that it has expanded its generative AI business in earnest. It is mainly focused on generative AI-based GPUaaS (GPU as a Service), which has seen a rapid increase in demand; the generative AI-based enterprise platform FabriX; and the collaboration solution Brity Copilot for enterprises.
According to the “Korea Managed Cloud Services Market Share, 2023,” released by the global IT market intelligence firm IDC, Samsung SDS secured the number one position in recognition of its performance. Additionally, the company ranked second (first among domestic players) in the “Korea Public Cloud Services Market Share, 2023,” leading the domestic cloud market.
Furthermore, Samsung SDS advanced in the global market in earnest by signing a contract last year with the SRM SaaS solution Caidentia in the U.S.
In the logistics business, revenue from the digital logistics platform Cello Square surpassed 1.16 trillion won, more than doubling from 2023. At the same time, the platform continues to grow as a global digital logistics platform, securing approximately 19,000 corporate subscribers.
Even amidst tough circumstances this year, such as global economic depression and an uncertain management environment, Samsung SDS plans to further reinforce and expand its generative AI-based cloud business.
Samsung SDS will prepare GPU-based AI data centers for future growth and expand its cloud migration/operation business mainly in the public and financial sectors, etc. Additionally, the company will support hyperautomation innovation for corporate customers through its generative AI business.
Samsung SDS is dedicated to ESG management to ensure sustainable growth. The company also focuses on managing AI ethics risks, provision of low-carbon services, and transitioning to renewable energy by leveraging its digital capabilities.
