Truen CEO Ahn Jae-cheon Buys More Company Shares, Vowing to Strengthen Responsible Management

[Financial News] Truen disclosed on the 14th that CEO Ahn Jae-cheon had purchased 14,509 common shares on the open market. Following the purchase, Ahn’s holdings rose to 2,775,359 shares, or a 26.51% stake.
Ahn made an additional purchase following one early this year, reaffirming his commitment to responsible management. The company explained that, with confidence in its medium- to long-term growth prospects and corporate value, Ahn was acting to enhance shareholder value as its largest shareholder and CEO.
Truen is expanding its revenue base around high-end on-device artificial intelligence (AI) cameras and its software, “TAEM (Truen AI Event Manager).” Demand in overseas markets such as the United States, Germany and India to replace Chinese-made video security products is driving export growth. Total export revenue in the second quarter rose 176.5% from a year earlier, while overseas sales of its flagship IP cameras increased 270.5%.
In South Korea, too, interest in domestically made AI CCTV is growing as the importance of video information security increases. It was recently reported that the number of Chinese-made CCTV cameras operated by the military had exceeded 1,000, prompting concerns about video information leaks and calls to expand the adoption of domestically made video security equipment.
The government is pushing ahead this year with a project to transition public CCTV systems to AI CCTV equipped with domestically made neural processing units (NPUs). Efforts are also expanding to build intelligent monitoring systems that use AI to analyze footage collected by local governments and detect disasters, crimes and abnormal situations in advance.
Truen develops and supplies AI cameras and video analysis solutions using its proprietary technology. It expects demand at home and abroad to replace Chinese-made video security products to create opportunities for business expansion. A company representative said, “Sales are increasing as our products’ competitiveness is recognized overseas as well, thanks to the AI expertise we have built up in the domestic video security market. We will focus on ensuring these achievements lead to sustained growth and greater corporate and shareholder value.”
[email protected] Choi Doo-seon Reporter