Vespin Global announced on the 9th that its Korean subsidiary has achieved breakeven point (BEP) based on adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) in 2024, successfully turning profitable.
Vespin Global has strengthened customer-tailored services through the convergence of AI and cloud, focusing on improving business productivity and cost efficiency after a strategic organizational restructuring centered on the AI managed service provider (MSP) business in July. The expansion of the large language model (LLM) based AI agent platform "HelpNow AI" is particularly cited as a major achievement.
Currently, Korea Hydro and Nuclear Power Corporation has fully commenced the development of the world's first nuclear power plant specialized generative AI service, and successfully built the generative AI teaching and learning platform "Our Child (AI)" for the Ulsan Education Office last year. The "Seongdong Smart AI Civil Service Chatbot" of the Seongdong District Office in Seoul is also in the pilot operation phase.
With the turnaround to profitability of its Korean subsidiary, Vespin Global has taken another step toward its goal of establishing itself as a leading corporation in digital innovation centered on AI. Based on customer cases of HelpNow AI across various industries, including energy, public services, education, manufacturing, mobility, finance, tourism, and customer service, the company plans to actively promote AI services and solutions tailored to different industries in 2025.
Heo Yang-ho, the Korea representative, noted, "This profitable turnaround outlook is an encouraging result brought about by the transition to AI MSP and customer-centered customized services, demonstrating Vespin Global's growth potential and market leadership as an important turning point." He added, "Vespin Global will continue to strengthen collaboration with domestic and international customers and partners, solidifying its position as a next-generation digital transformation (DX) leading corporation centered on AI based on advanced internal capabilities and expertise."