GenON Turns to Profit Backed by 'Actionable AI'... Accelerates Global Expansion and IPO

Starting as 'Minds & Company' in 2017 and changing its name in 2024, GenON is a company specializing in generative AI platforms and solutions. It is growing rapidly by presenting 'Actionable AI'—where AI goes beyond simple text-based Q&A to directly control systems and complete tasks—as its core competitiveness.

Remarkable Earnings Improvement Overcoming Deficits... Achieves KRW 9.3 Billion in Revenue and KRW 1.8 Billion in Operating Profit in 2024

Based on its outstanding technological prowess, GenON has recently achieved a clear earnings improvement (turnaround). Starting with KRW 1.7 billion in revenue (operating profit of KRW 300 million) in 2019, it grew to record KRW 4.7 billion in revenue (operating profit of KRW 1.4 billion) in 2020, but experienced a period of earnings stagnation and deficits, posting KRW 4.3 billion in revenue (operating profit of KRW 400 million) in 2021, KRW 4.3 billion in revenue (operating loss of KRW 400 million) in 2022, and KRW 4.3 billion in revenue (operating loss of KRW 200 million) in 2023. However, in 2024, it expanded its client base across various industries, including the public, energy, and financial sectors, achieving KRW 9.3 billion in revenue and KRW 1.8 billion in operating profit, successfully accomplishing a spectacular turnaround to surplus.

Selection of Samsung Securities as Lead Manager to Accelerate Growth and Successful Investment Attraction

Having secured a stable revenue model, GenON has begun full-fledged preparations for an initial public offering (IPO). To this end, it selected Samsung Securities as the lead underwriter for its listing and successfully attracted investments from Yellow Sea Management, GNTech Venture Capital, and Albatross Investment. In particular, Yellow Sea Management, which participated in the Series A round, highly evaluated GenON's business viability and growth potential, becoming its second-largest shareholder.

Based on the investment funds, GenON is undertaking a large-scale workforce recruitment to finalize its business operations and prepare for the listing. In fact, the number of employees, which stood at 48 as of January 2025, is significantly increasing to 118 by January 2026, aggressively expanding the organization's scale.

Targeting the Market with 'GenOS' and 'OneAgent'... Evolution into Physical AI

GenON's core growth engines are the generative AI platform 'GenOS' and the actionable AI agent 'OneAgent'. GenOS is a platform that helps business users directly design and deploy AI agents, while OneAgent automatically performs actual work processes by directly controlling the user's PC environment or web browser. Recently, it unveiled the 'Hunmin VLM 235B' model, which can precisely identify and manipulate on-screen elements, further advancing its task execution capabilities.

Going forward, GenON plans to expand into the realm of 'Physical AI,' transcending the limits of AI by combining it with humanoid robots, to introduce daily task assistance services such as senior care. In addition, it is accelerating its entry into the Southeast Asian market, recently establishing its first overseas subsidiary in Jakarta, Indonesia. Attention is focused on whether GenON, which aims to become the "Palantir of South Korea," will achieve a successful listing on the KOSDAQ and leap forward as a global AI solution company.