1. iMarketKorea’s H1 2025 Performance: What Happened?

iMarketKorea reported revenue of KRW 735.4 billion, operating profit of KRW 6.5 billion, and net income of KRW 16.4 billion for the first half of 2025. Revenue and operating profit missed market expectations by 5% and 36%, respectively. While net income exceeded expectations, this is attributed to one-off factors.

2. Reasons for Underperformance: Why These Results?

  • Economic Slowdown: The overall economic slowdown and increased uncertainty negatively impacted the B2B e-commerce market.
  • Intensified Competition: Increased competition in the industrial B2B e-commerce market contributed to iMarketKorea’s revenue decline.
  • Increased SG&A Expenses: Along with declining revenue, increased selling, general, and administrative expenses negatively affected profitability.
  • Subsidiary Underperformance: The poor performance of its subsidiary, AnyCare, also impacted the overall results.

3. Future Outlook and Investment Strategy: What’s Next?

In the short term, earnings improvement is expected to be challenging due to economic uncertainty and intensifying competition. However, iMarketKorea is striving to secure growth drivers through cost efficiency and new business development. Investors should closely monitor the company’s efforts to improve fundamentals and the results of its growth strategies. A conservative investment approach is recommended.

4. Key Takeaways for Investors: Action Plan?

Investors considering iMarketKorea should approach with caution, keeping in mind the potential for short-term underperformance. Continuously monitor the company’s growth strategies and earnings improvement, and make investment decisions conservatively. Investors with a long-term perspective on the company’s potential should patiently monitor the company’s progress.