Seoul Robotics Selects Samsung Securities as Lead Underwriter for Next Year’s 2025 KOSDAQ Debut

Feb 8, 2024

Seoul Robotics, a leader in industrial autonomous driving technology, has commenced preparations for its initial public offering (IPO).

On the 8th, Seoul Robotics announced its selection of Samsung Securities as the lead underwriter for its upcoming listing. The company aims to list on the KOSDAQ next year.

Established in 2017, Seoul Robotics specializes in industrial autonomous driving software (SW). Its flagship autonomous driving SW platform, 'Level 5 Control Tower,' enables non-autonomous vehicles to operate autonomously by supporting them with advanced functionalities. Sensors deployed in surrounding infrastructure such as buildings and street lights detect the vehicle's position and obstacles, transmitting driving commands wirelessly to driverless vehicles. Seoul Robotics has secured contracts with major Asian automotive manufacturers for the adoption of the Level 5 Control Tower and is actively pursuing technology proof of concept (PoCs).

This year, Seoul Robotics aims to attract pre-IPO investments and utilize the raised capital to bolster talent acquisition and research and development (R&D) efforts. The company achieved a revenue of 30 billion won last year, with a gross profit margin of 55%.

Hanbin Lee, CEO of Seoul Robotics, stated, "Having established a competitive edge in the industrial autonomous driving sector, we have decided to pursue a KOSDAQ listing next year to expand our business into the global automotive logistics sector, which boasts a market size of tens of trillions of won." He added, "The proceeds from the offering will be utilized to strengthen our technological capabilities and secure top talent for our expansion into the U.S. and Chinese markets."