Danggeun Posts 2nd Consecutive Profit Year; Hits ₩189.1B Sales, ₩37.6B Operating Profit in 2024

Danggeun Market announced record-breaking performance in 2024, solidifying its position as a leader in the hyper-local market. It recorded sales of KRW 189.1 billion (up 48% year-on-year) and operating profit of KRW 37.6 billion (up 3.8 times year-on-year), continuing its separate financial statement surplus for two consecutive years. Furthermore, it achieved the remarkable feat of its first consolidated surplus (operating profit KRW 2.5 billion, net profit KRW 8.4 billion) amidst global investments. This signifies its entry into a stable growth trajectory based on a robust financial structure. The main driver of this performance growth is the advertising business. Ad revenue surged by 48%, driven by a 37% increase in advertisers and a 52% increase in ad executions in 2024. This is a result of successfully expanding its business scope beyond local small and medium-sized businesses to specialized advertising solutions for brands and corporations. Additionally, through the expansion of various services such as ‘Danggeun Alba’ (part-time jobs), ‘Danggeun Gatherings’, and ‘Danggeun Stories’, it secured 43 million cumulative subscribers and 14 million weekly active users (WAU), significantly increasing user touchpoints and app dwell time. This demonstrates that Danggeun Market has presented a new success model for IT companies targeting the local market. Its strong performance in the global market is also noteworthy. Since its overseas expansion in 2019, it has expanded its services to over 1,400 regions in 4 countries, including Canada, the U.S., Japan, and the U.K. Particularly in Canada, it surpassed 2 million cumulative subscribers, proving its global growth potential. It plans to expand its service areas across North America within the next five years. Hwang Do-yeon, CEO of Danggeun, emphasized, "It was a significant year where we simultaneously achieved global investment and a sound financial structure despite challenging circumstances," and stated that based on its robust growth, it would establish itself as a dominant player in the hyper-local market. Danggeun Market plans to evolve into a life-centric service that more closely connects the lives of its 40 million users by enhancing its services through the integration of AI technology and continuous innovation this year.