Samsung SDS was designated as the private sector’s first “data specialized institution” in an evaluation by the Financial Services Commission (FSC).
A data specialized institution is allowed to converge pseudonymous information, including financial data.
Pseudonymous information refers to information that is partly deleted and replaced so personal information cannot be divulged and distinguished.
In November 2020, Samsung SDS became the private sector’s first institution allowed to combine pseudonymous information of non-financial data.
With the designation of a data specialized institution, Samsung SDS will be allowed to provide financial and non-financial pseudonymous information to companies and institutions, which want to combine pseudonymous information and create new services.
For instance, the combining and analyzing of a card company’s purchase information and a telecom service provider’s customer information could lead to the grasping of consumption patterns according to regions and purchase amounts and creation of data useful for recommending products and services tailored to meet consumers’ needs.
Samsung SDS is expected to make pseudonymous information combined in a safe fashion utilized for developing diverse services and greatly contribute to ramping up the synergetic effects with the AI big data analytics business of each industry.
Samsung SDS plans to realize a combination specialized system at the Samsung Cloud Platform (SCP) to provide data combination and analytics services in a safe fashion.
Samsung SDS Announces Second-Quarter 2023 Financial Results
Samsung SDS announced on July 27 its preliminary financial results for the second quarter of 2023, posting a revenue of 3.29 trillion won and an operating profit of 206.4 billion won.
Compared to the previous quarter, its revenue fell by 3.2 percent while operating profit increased by 6.2 percent. In YoY basis, revenue decreased by 28.4 percent and operating profit by 23.6 percent.
IT services business revenue fell by 0.02 percent YoY to 1.51 trillion won.
Despite the global economic downturn and reduced corporate investments, the quarterly revenue of cloud business grew 63 percent YoY to reach a record-high of 444.5 billion won.
Cloud service provider (CSP) business based on Samsung Cloud Platform (SCP) achieved a growth of 38 percent YoY, driven by expansion of overseas services and increase of revenue from high-performance computing (HPC) cloud.
Also, managed service provider (MSP) business grew by 148 percent YoY, which is attributable to the increased revenue from external customers in the financial and service industries and the project win regarding the cloud migration of Korea Customs Service.
To further expand cloud business, Samsung SDS plans to continuously pursue cloud migration and app modernization projects mainly in the logistics, service, financial, and public sectors.
Moreover, Samsung SDS announced that it is preparing a generative AI service specialized for enterprise customers.
Based on its AI technologies and industry expertise, the company plans to provide generative AI that can be freely used while safely protecting corporate data for enterprise customers concerned with the leakage of critical data.
Logistics business revenue declined by 42 percent YoY to 1.78 trillion won due to the decrease in global freight rates and volume.
Samsung SDS is continuously strengthening the data-based logistics operation, analysis and information services of Cello Square, the company’s digital forwarding platform that is evolving beyond the simple implementation of logistics to become a key enabler of intelligent supply chain management.
Along with this, the company plans to make headway into the Middle East and Southwest Asia that are emerging as new manufacturing supply chains to further expand the offering of Cello Square operated across 13 countries including China, Southeast Asia, U.S., and Europe.
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