As the defense industry boom continues, applications for Initial Public Offerings (IPO) from small and medium-sized defense corporations are on the rise. With the defense industry emerging as a leading sector in the stock market, it is observed that funding through stock market entry is becoming active for small and medium-sized firms.
According to the defense industry on the 27th, the bulletproof product corporation Samyang Comtech has passed the preliminary listing review by the Korea Exchange's KOSDAQ market last month and is awaiting demand forecasting. Samyang Comtech is a leading corporation in the bulletproof field that manufactures bulletproof gloves, bulletproof vests, and bulletproof ceramic materials.
Samyang Comtech is highly regarded for its bulletproof ceramic material technology in the domestic and international defense industries. It is supplying special bulletproof gloves made from bulletproof ceramics that are stronger yet lighter than conventional steel plate armor exclusively for Hyundai Rotem's K2 tanks. The special bulletproof gloves are armor structures that are integrated into the tank's body, serving as a crucial component that determines the tank's protection capabilities. It is known that the localization of Samyang Comtech's bulletproof gloves has played a decisive role in Hyundai Rotem's achievement of exporting 1,000 K2 tanks to Poland, defeating Germany's Leopard 2 tanks.
Samyang Comtech's bulletproof products are also included in Hanwha Aerospace's multi-launch rocket Chunmu and Korea Aerospace Industries' (KAI) multipurpose helicopter Surion. With increasing exports, Samyang Comtech recorded its highest-ever performance last year with a revenue of 141.6 billion won and an operating profit of 18.1 billion won. Samyang Comtech plans to use funds raised from the IPO for research and development of bulletproof new materials and facility expansion.
Duksan Group's navigation technology corporation Duksan Neptcore is preparing to file for a preliminary listing review with the KOSDAQ market in the second half of the year. Founded in 2012, it has grown into a leading domestic navigation system corporation by acquiring the defense sector and research and development personnel of navigation solutions company Hanyang Nebicom. It is particularly recognized for its technology related to electronic warfare equipment, which corresponds to the spear in modern navigation warfare, and anti-jamming devices, which correspond to the shield.
Duksan Neptcore's integrated navigation system will be deployed in Hanwha Aerospace's multi-launch rocket Chunmu and LIG Nex1's ground-to-air guided weapon CheonKong. Duksan Neptcore recorded its highest annual revenue of 45.2 billion won last year, a 44% increase from the previous year, and turned an operating loss into profit (operating profit of 2 billion won).
Duksan Hi Metal, a manufacturer of semiconductor packaging adhesion materials, is the largest shareholder with a 63.24% stake in Duksan Neptcore. Lee Soo-hoon, chairman of Duksan Group, also holds a 7.73% stake in Duksan Neptcore.
Drone manufacturer SOOMVI submitted a request for a preliminary examination for KOSDAQ market listing at the end of January but has recently withdrawn the application. SOOMVI raised investments from LIG Nex1 and the Military Personnel Mutual Aid Association at the end of last year, garnering expectations of becoming the first listed drone company in the country. In January, a business agreement was also signed with Hanwha Aerospace for the development of a hybrid manned-unmanned chemical and biological reconnaissance vehicle.
SOOMVI recorded a revenue of 3.4 billion won and an operating loss of 7.2 billion won in 2023. It is reported to be planning to reinitiate its listing in the first half of next year after expanding its revenue base.