Virnect Joins Defense Software Development Project with ₩500 Million Contract from Hancom Life Care

 Virnect, an extended reality (XR) technology company, has signed a ₩500 million (approximately USD 360,000) supply contract with Hancom Life Care, a defense and safety equipment manufacturer, to participate in a defense software development project.

According to the Financial Supervisory Service’s electronic disclosure system on the 30th, Virnect announced on the 29th that it had entered into a technical service agreement with Hancom Life Care to develop training control software (SW) for an armored and mechanized company-level combat training system R&D project.

Virnect explained,

“This contract is a strategic step to expand our business in the defense sector and strengthen our capabilities in defense software solution development.”

The contract period runs from October 29, 2025, to December 26, 2027.
Payment will be made after the completion of the project upon approval of the final deliverables. Both in-house and outsourced production methods will be applied.
The contract amount of ₩500 million (excluding VAT) represents 10.87% of Virnect’s most recent annual sales of ₩4.59 billion, while Hancom Life Care’s latest annual sales total ₩104.77 billion.

On a consolidated basis, Virnect reported an operating loss of ₩12.7 billion and a net loss of ₩12.6 billion last year.

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