- Q1 Revenue Reaches 2.01 Billion KRW, Operating Profit Hits 1.51 Billion KRW
- Revenue and Operating Profit More Than Double Year-on-Year, Boosting Performance Expectations for This Year

Media Coverage

• ▶︎ '700 Million to 1.5 Billion': Operating Profit Doubles in One Year…The Secrets Behind HR Solution Shiftee's Profitability
• ▶︎ Shiftee Announces Q1 Results…Operating Profit Approximately Doubles Year-on-Year

Shiftee, an integrated workforce management solution provider led by CEO SeungWon Shin, announced its Q1 2024 results, reporting revenues of 2.01 billion KRW and operating profits of 1.51 billion KRW.

Shiftee continues its growth trajectory, achieving revenues of 2.01 billion KRW and operating profits of 1.51 billion KRW in the first quarter of 2024. This represents a 91% increase compared to 1.05 billion KRW in the same period last year. The operating profit also saw a significant increase of 106%, rising from 730 million KRW in the previous year to 1.51 billion KRW. Notably, within just two years, quarterly revenues have surpassed the total annual revenue achieved in 2021, demonstrating remarkable growth.

Shiftee is an HR tech company that offers a solution of the same name, featuring a variety of functions necessary for corporate workforce management, including work schedules, leave management, attendance records, payroll, electronic contracts, request-approvals, and messaging. The solution can be easily implemented in a SaaS format, regardless of industry—whether it be retail, manufacturing, construction, finance, or public sectors—and is suitable for companies of all sizes. Currently, major companies such as SK, Hyundai, Lotte, Kakao, and Hanwha are utilizing Shiftee for customized workforce management. As of December 2023, the number of workplaces using Shiftee surpassed 300,000, and the company has successfully established itself in the Taiwanese market, which it entered in September of the same year.

CEO SeungWon Shin stated, “We are seeing an increase in inquiries from medium and large enterprises, and our repurchase rate among paying customers remains at 97.2%. This leads us to view our growth potential positively for this year. While solidifying our position in the domestic market, we aim to expand aggressively into overseas markets in the second half of the year, aspiring to evolve from the leading integrated workforce management solution provider in Korea into a global solution company.”

Integrated Workforce Management Solution, Shiftee