MediaZen Increases Voice Recognition Software Development Contract to 85.99 Billion KRW and Extends Period, Expects Revenue Growth

MediaZen announced an amendment to its existing single sale/supply contract on June 18, 2026, increasing the contract amount from 7.942 billion KRW to 8.599 billion KRW, a rise of approximately 657 million KRW, and extending the contract period to December 31, 2026. This amount corresponds to 67.4% of its 2023 sales of 12.753 billion KRW.
The counterparty is a domestic auto parts manufacturer, and detailed contract terms are withheld due to confidentiality requests. Payment terms include an advance payment of 2.383 billion KRW and milestone payments.
The contract involves voice recognition software development, utilizing both in-house and outsourced production. The increased contract value and extended period are expected to strengthen MediaZen's stable revenue base.
[AI Summary]MediaZen's contract amendment signals growing demand for voice recognition technology, likely boosting revenue and profitability. However, the undisclosed counterparty and confidentiality require investors to monitor progress.