YoungLimWon Soft-Lab Expands Research and Development Expenses for the Third Year
YoungLimWon Soft-Lab Expands Research and Development Expenses for the Third Year
R&D Expenditure Ratio Maintained at 10% for 3 Years… Corporate Culture Innovation Platform, Expansion of Cloud ERP Industry, Focus on R&D on Incorporating Generative AI
YoungLimWon Soft-Lab Research and Development Expenditure Summary
Note: R&D Expenditure is a percentage of sales revenue
Source: YoungLimWon Soft-Lab Financial Statements / Unit: %, KRW
YoungLimWon Soft-Lab’s research and development expenses have been increasing for three years. This increase is due to investments in a new business initiative, the corporate culture innovation platform.
As a result of Data News’ analysis of the YoungLimWon Soft-Lab business report published on the Financial Supervisory Service’s electronic disclosure system on the 23rd, the company’s research and development expenses last year amounted to 7.62 billion won. It increased by 15.3% compared to the previous year (6.66 billion won).
YoungLimWon Soft-Lab increased research and development expenses in 2022 by 7.5% compared to the previous year. The proportion of research and development expenses has consistently stayed in the 10% range, at 13.7% last year, following 12.9% in 2021 and 11.5% in 2022.In addition to investing in the corporate culture innovation platform, which has been promoted as a new business for the past three years, YoungLimWon Soft-Lab has also invested in research and development to expand the cloud ERP industry.
Based on this research and development, last year, YoungLimWon Soft-Lab introduced ‘Flextudio’, an app smart factory that can be developed even by non-experts based on AI, EverTime, a time and attendance management solution, ‘EverAsk’, a group brainstorming support platform, and the integrated view SaaS solution ‘EverOnOne’. EverOnOne is scheduled for official release in July this year.
YoungLimWon Soft-Lab continued to develop and add customized ERP ‘K-System Ace’ industrial model. The K-System Ace is a customized ERP that incorporates industry-specific standard processes, drawing on YoungLimWon Soft-Lab’s extensive project experience across various sectors.
YoungLimWon Soft-Lab has added new apparel service models and equipment design service models, and plans to gradually expand into construction and engineering models, environmental preservation and safety management (EHS) modules, PICO logistics systems for the pharmaceutical industry, and distribution advancement.
This year, AI research projects have been selected and are being promoted as a three-year plan. Research and development are also underway on AI ERP to incorporate generative AI into product lines. Some AI ERP models will be released in October of this year.
An official at YoungLimWon Soft-Lab said, “We are developing a new business package to diversify the industrial model,” and “We are conducting research and development on models for mid-sized companies to expand our customer base to mid-sized companies.”
Reporter Kim, Min-ji / honest@datanews.co.kr
