Datametrex Secures Another AI Contract In South Korea

Datametrex AI (TSXV: DM) keeps grinding out its operations in South Korea. The firm this morning announced another contract in the region, again for its artificial intelligence division.

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The purchase order received is for a total figure of $900,000. While a name was not provided for whom specifically the contract is with, the company indicated that it “focuses on working with a few core conglomerates as a preferred vendor,” effectively referencing the Lotte Group, one of the largest firms in the country whom Datametrex has numerous agreements with across its subsidiaries.

Commenting on the arrangement, CEO Marshall Gunter added, “South Korea continues to be an important market for Datametrex AI. We look forward to assisting next-generation technologies with artificial intelligence in the auto, consumer goods, electronics, telecom, insurance, and heavy industries in Korea that will help innovative growth and expand the economy.”

The new contract follows the announcement that Datametrex has seen the expansion of orders from one of its major clients in Canada. The company now expects to see purchase orders climb to $50 million from the media and entertainment company it currently works with to provide COVID-19 test kits, an improvement from the prior $20 million expected from the deal.

Datametrex AI last traded at $0.18 on the TSX Venture.

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