Samsung SDS held the 40th Annual General Meeting of Shareholders on the 19th at its Jamsil Campus in Seoul, where it announced last year’s performance and business plans. The meeting approved financial statements, appointed Lee Jun-hee and Lee Ho-joon as in-house directors, and approved the limit on directors’ compensation.
Samsung SDS recorded a revenue of 13.8282 trillion KRW and an operating profit of 911.1 billion KRW in 2023. The continuous growth of its cloud and digital logistics businesses drove these results.
The cloud business achieved sales of 2.3235 trillion KRW, marking a 24% increase from the previous year. This sector has established itself as a core growth area, with its proportion surpassing 37% within the IT service business.
Samsung SDS is strengthening its business with a focus on GPUaaS (GPU as a Service), the corporate generative AI platform FabriX, and the enterprise collaboration solution Brity Copilot, in response to the growing demand for generative AI.
According to IDC’s 2023 report on the domestic cloud market, Samsung SDS ranked first in the Managed Cloud Service (MSP) segment and was also the leading domestic provider in the Public Cloud Service (CSP) segment.
Last year, in the United States, the company signed a contract for the purchase of the supply chain management (SRM) SaaS solution ‘Caidentia’, signaling its full-scale entry into the global market.
The digital logistics business also achieved significant results, with the revenue of its logistics platform Cello Square surpassing 1.16 trillion KRW, doubling year over year growth. The platform has established itself as a global digital logistics platform, with over 19,000 customer companies.
Despite the global economic uncertainties this year, Samsung SDS plans to expand its generative AI-based cloud business. The company is preparing GPU-based AI data centers and intends to expand cloud transition and operations focused on public and financial sectors.
Samsung SDS is also committed to ESG management to ensure sustainable growth. It plans to enhance the provision of low-carbon services, transition to renewable energy, and manage AI ethics risks, leveraging its digital capabilities.