재무적 성과 외에도 2025년은 전략적으로 중요한 해였습니다. FPT는 베트남과 일본에 AI 팩토리를 가동하며 AI 기반 성장을 위한 노력을 강화했습니다.[3]. In parallel, Reuters reported that Vietnam’s Ministry of Public Security took over the state’s majority stake in FPT Telecom during 2025, highlighting the rising strategic importance of digital infrastructure and cybersecurity-related assets within the broader FPT ecosystem.[4]

Industry analysis and business situation of FPT’s subsidiaries and affiliates

FPT 생태계 내에서 그룹을 평가하는 가장 명확한 방법은 소프트웨어 및 IT 서비스, 통신, 교육이라는 세 가지 주요 사업 부문을 통해 살펴보는 것입니다. 이 세 가지 사업은 FPT가 기존의 아웃소싱 기업을 뛰어넘어 성장해 온 방식을 설명해 줍니다. 소프트웨어는 주요 성장 동력이며, 통신은 지속적인 수익과 탄탄한 인프라를 제공하고, 교육은 장기적인 인재 개발을 통해 생태계를 뒷받침합니다.

소프트웨어 및 글로벌 IT 서비스

FPT’s software ecosystem is anchored by FPT Software, the group’s flagship global delivery arm, and supported by adjacent technology units such as FPT IS. Together, these businesses allow FPT to address a broad value chain, from software outsourcing and systems integration to large-scale digital transformation programs. This structure matters because it gives FPT a wider market position than a pure offshore coding provider, with stronger exposure to enterprise, public-sector, and platform-led work.[5]

Software and IT services have become the clear center of gravity in the FPT ecosystem. The technology segment accounted for 60% of group revenue and 45% of pre-tax profit in 2023, rose to 62% and 47% in 2024, and reached 63% and 45% in 2025. Within that, global IT services revenue increased from VND 24,288 billion in 2023 to VND 35,382 billion in 2025, while pre-tax profit rose from VND 3,782 billion to VND 5,467 billion. This trajectory shows that FPT’s software business is not only expanding in scale but also sustaining profitability as it moves further into higher-value contracts and transformation work.

Revenue and profit before tax of FPT’s technology sector, 2022-2025

단위: 조 VND

출처: FPT 자료를 바탕으로 B&Company가 작성한 분석 보고서

Revenue of FPT’s technology sector from domestic and global IT services

단위: 조 VND

출처: FPT 자료를 바탕으로 B&Company가 작성한 분석 보고서

무엇보다 중요한 것은 FPT가 단순히 계약 규모를 늘리는 데 그치지 않고 더 크고 전략적인 수주를 확보하고 있다는 점입니다. 2025년까지 글로벌 IT 서비스 부문 계약 매출은 15억 달러를 돌파했으며, 1천만 달러 이상의 계약을 26건이나 체결했습니다. 또한 미국 고객사와 1억 달러 규모의 디지털 전환 계약을 발표하고, 베트남과 일본에 AI 팩토리를 가동했으며, 2025년 중반에는 가트너 시장 점유율 데이터에서 아시아 40대 IT 서비스 기업에 이름을 올렸습니다. 동시에 FPT는 FPT 반도체를 통해 반도체 분야로 기술 투자를 확대하기 시작했으며, 다낭에 첨단 반도체 연구 개발 센터를 설립하고 2025년에는 더욱 완벽한 칩 생태계를 선보일 계획입니다. 이러한 발전은 FPT의 소프트웨어 사업이 AI, 클라우드, 반도체, 그리고 디지털 전환 사업을 중심으로 더욱 가치 사슬을 확장하고 있음을 시사합니다.[6] [7] [8] [9]

통신

If software is FPT’s growth engine, telecommunications is its stabilizing core. The telecom pillar is centered on FPT Telecom and supported by a broader digital services layer that includes broadband, enterprise connectivity, data-center capacity, pay TV, and content distribution through FPT Play. This matters strategically because it gives the group not only a steady domestic cash flow but also direct exposure to the infrastructure side of Vietnam’s digital economy. In contrast with software, which is more export-oriented and project-driven, telecom provides a more predictable revenue base and a largely installed customer base in the home market.[10]

최근 몇 년간 통신 사업은 견고한 성장세와 더불어 전략적 중요성이 더욱 커지고 있음을 보여줍니다. 공식 자료에 따르면 통신 서비스 매출은 2023년 15조 1,860억 VND에서 2025년 18조 7,020억 VND로 증가했으며, 세전 이익은 같은 기간 2조 8,950억 VND에서 4조 1,670억 VND로 증가했습니다. 즉, 통신 사업은 FPT에서 가장 빠르게 성장하는 부문은 아니었지만, 수익성 개선과 함께 안정적인 수익 기여를 해왔습니다.

Revenue and profit before tax of FPT’s telecommunications sector, 2022-2025

단위: 조 VND

출처: FPT 자료를 바탕으로 B&Company가 작성한 분석 보고서

At the same time, the business has become more strategically visible. In July 2025, Reuters reported that Vietnam’s Ministry of Public Security took over the state’s majority stake in FPT Telecom from SCIC, underscoring the company’s growing importance in network security and critical digital infrastructure. Separately, FPT Play secured exclusive Premier League distribution rights in Vietnam from January 2026, pointing to a further push into premium content monetization and suggesting that FPT’s telecom arm is evolving into a broader digital services platform rather than remaining a pure connectivity provider.[11]

교육

Education is the smallest of FPT’s three core pillars by revenue, but arguably the most distinctive in strategic terms. The system spans university, vocational, international, executive, and school-level education through brands such as FPT University, FPT Polytechnic, FUNiX, FPT School, FSB, Greenwich Vietnam, and Swinburne Vietnam. That breadth gives FPT a presence across multiple stages of workforce development and sets it apart from many regional technology groups, which typically rely on the labor market rather than building talent pipelines internally. In FPT’s case, education is not simply a diversification move; it is part of the operating logic of the ecosystem, designed to reinforce the group’s long-term position in software, AI, semiconductors, and digital transformation.[12] [13]

FPT University Campus in Ho Chi Minh City

(원천: FPT 대학교)

The numbers confirm that education has become a meaningful supporting pillar, even if it remains much smaller than software or telecom. Revenue rose from VND 6,159 billion in 2023 to VND 7,088 billion in 2024, before easing slightly to VND 7,009 billion in 2025. More important than the modest adjustment in 2025 was the segment’s strategic direction. FPT said its education network expanded to 19 provinces and cities in 2025, while more than 3,700 students were trained in AI and semiconductor design and all students from grades 1 to 12 were introduced to AI. The group also continued to expand its physical footprint, including the start of a new integrated school project in Nghe An.[14]

Revenue of FPT’s education sector, 2022-2025

단위: 조 VND

출처: FPT 자료를 바탕으로 B&Company가 작성한 분석 보고서

Number of students across FPT’s education system, 2020-2024

단위: 사람

출처: FPT 자료를 바탕으로 B&Company가 작성한 분석 보고서

As a result, FPT Education is best understood not as a stand-alone education business, but as a long-cycle capability builder for the wider group. From a market research perspective, this is what makes the segment relevant to the investment story: it strengthens FPT’s control over talent formation in exactly the fields where future demand is expected to concentrate.

기타 부문: 미디어, 투자, 소매 및 관련 사업

Outside its three main pillars, FPT’s remaining businesses are concentrated in media, investment, retail, and distribution, where they play a supporting rather than defining role in the group’s earnings profile. FPT Online is the clearest media asset in this layer, operating a premium digital publishing and advertising network that reaches more than 50 million users per month and giving group scale in audience access and digital brand visibility.[15]

On the commercial side, associate companies FPT Retail and Synnex FPT extend FPT’s reach into consumer and enterprise channels. FPT Retail, which operates FPT Shop and the Long Chau pharmacy chain, recorded VND 51.08 trillion in revenue and VND 1.22 trillion in pre-tax profit in 2025, with Long Chau remaining the main growth driver.[16]한편, Synnex FPT는 3,800개 이상의 대리점과 8,000개 이상의 판매점을 보유한 네트워크를 통해 전국적인 ICT 유통망을 지속적으로 강화하고 있습니다.[17]

Investment activity has also become more visible, as shown by FPT’s 2025 strategic investment in Malaysia’s Daythree to expand business process services across APAC[18]. Together, these businesses are smaller than software or telecom, but they broaden FPT’s market access, deepen customer touchpoints, and add flexibility to the wider ecosystem.

결론

Overall, FPT’s subsidiaries and affiliates form an ecosystem in which each pillar plays a distinct but mutually reinforcing role. Software and global IT services remain the principal growth engine, telecommunications provide a stable earnings and infrastructure backbone, and education strengthens the group’s long-term control over talent development. The remaining businesses in media, retail, distribution, and investment are smaller in scale, but they expand FPT’s market reach and add flexibility to its operating model.

Viewed together, recent developments suggest that FPT is no longer simply a leading Vietnamese outsourcing company. It is increasingly operating as an integrated technology group, combining export-oriented digital services with domestic infrastructure, content, distribution, and human-capital platforms. That combination should help the group remain resilient through changing technology cycles while positioning it to capture rising demand for AI, cloud, cybersecurity, and digital transformation in both Vietnam and overseas markets. For investors and market observers, this integrated model remains one of FPT’s clearest competitive advantages.

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[1] FPT 웹사이트입장>

[2] FPT 웹사이트입장>

[3] FPT 웹사이트입장>

[4] Reuters (2025): Vietnam’s public security ministry takes stake in internet firm FPT Telecom <입장>

[5] FPT 웹사이트

[6] FPT 웹사이트입장>

[7] FPT 웹사이트입장>

[8] FPT 웹사이트입장>

[9] FPT 웹사이트입장>

[10] FPT 웹사이트입장>

[11] FPT 웹사이트입장>

[12] FPT 웹사이트입장>

[13] FPT 교육입장>

[14] FPT 웹사이트입장>

[15] FPT 웹사이트입장>

[16] 투자자(2026): FPT Retail은 사상 최고 수익을 기록한 후 견조한 성장을 목표로 한다.입장>

[17] 시넥스 FPT입장>

[18] FPT 웹사이트입장>