Industry-specialized artificial intelligence (AI) corporations MakinaRocks has begun in earnest its bid to list on the KOSDAQ market.
On the 24th, according to the Korea Exchange (KRX), MakinaRocks on the 17th filed for a preliminary review for listing with the KOSDAQ Market Division of the Korea Exchange (KRX). The listing underwriter is Mirae Asset Securities.
MakinaRocks is regarded as a first-generation corporation in industry-specialized AI. Chief Executive Yun Seong-ho, a former data scientist at SK Telecom, co-founded the company with Chief Executive Lee Jae-hyeok in 2017.
Leveraging AI technology for manufacturing process optimization, the company secured clients including Hyundai Motor and Samsung Electro-Mechanics. Last year it posted 8.3 billion won in revenue and an operating loss of 10.9 billion won.
The company plans to push for a listing on the strength of its technology. With industry-specialized AI technology and an AI platform that can be used even in closed-network environments, it recently received "A," "A" grades in a technology evaluation.
This attempt by MakinaRocks to list is its second, following last year. About five months after filing for a preliminary review, it voluntarily withdrew the review in Oct.
The company's market capitalization after listing is expected to exceed 300 billion won. At the end of 2023, it was valued at about 250 billion won in a fundraising round.