[IPO] Saltlux "Leap to Global Unicorn Status Through IPO"

[Asia Economy Reporter Hyunseok Yoo] "We will become a leading global software company based on AI and big data that drives the 4th Industrial Revolution through our KOSDAQ listing."

On the 7th, Lee Kyung-il, CEO of Saltlux, announced this goal at an IPO press conference held at the 63 Building in Yeouido, Seoul.

Saltlux was established in 2000. It is an innovative technology company specializing in AI and big data technologies. Based on its data platform, it has conducted crisis detection and early response projects in defense and security sectors such as the Ministry of National Defense and the Defense Security Command through machine learning and augmented analytics. It also provides AI consultation chatbots, AI recruitment screening and chatbot consultation, and AI counselor support solutions. In its cloud business, it is expanding various AI services based on its proprietary cloud, such as automatically drafting contracts using AI technology and enabling financial evaluations.

CEO Lee explained, "We have strengthened our AI and big data business capabilities to secure 'conversational AI' technology and 'big data augmented analytics' technology based on ultra-large-scale data." He added, "Based on these core technologies, we are showcasing various products such as AI, big data, graph DB, and cloud services, achieving performance growth."

Saltlux recorded sales of 12.2 billion KRW and operating profit of 600 million KRW in 2017. Last year, it achieved sales of 18.3 billion KRW and operating profit of 25 million KRW. Leveraging the largest intellectual property portfolio in the industry (132 patent applications, 70 registered patents), it has secured over 1,500 customers including Samsung Electronics, NongHyup, and the Ministry of Land, Infrastructure and Transport. The company holds various successful references and has recorded a high average annual sales growth rate of 22.9% over the past three years, driven by strong growth in AI solutions and cloud services. The company states that its representative technologies, ensemble conversational AI and big data augmented analytics, are evaluated as top-level technologies.

A company official emphasized, "In response to the recent increase in demand for untact services, the company has built the AI callbot ‘Armi’ for NH NongHyup Bank." He added, "It provides guidelines and product recommendations on real-time consultation screens, enabling even new employees to respond at the level of those with over five years of experience, thereby improving consultation quality and maximizing satisfaction."

Saltlux plans to implement a three-stage Go-To-Market strategy to strengthen business competitiveness and secure new growth engines. First, it will pursue a specialized market strategy by platformizing existing customers’ businesses in finance and manufacturing to supply specialized solutions. It will also accelerate market expansion through investors and over 100 partner companies, and ultimately implement a global lynchpin strategy by developing various AI application businesses through global partners.

To this end, since last year, Saltlux has been expanding its market through strategic investor cooperation with major shareholders such as Hyundai Motor Group, KT, and Hyundai Heavy Industries, and strengthening business competitiveness through open innovation with domestic and international partners. Additionally, it plans to quickly achieve results by globalizing its Vietnam subsidiary as a global business base, targeting multinational companies through its US subsidiary, and entering the AI market through a partnership with Dainippon Printing Co., Ltd. (DNP), Japan’s largest business process outsourcing (BPO) company.

Saltlux aims to achieve 34.9 billion KRW in sales and 10 billion KRW in operating profit by the end of 2022, reaching an average annual growth rate of 26.0%. It also set a goal of 40% total sales growth by 2025. The company plans a quantum jump by building a convergence business ecosystem through more than eight strategic companies it has invested in and over 30 domestic and international partners. CEO Lee Kyung-il said, "The company plans to grow into a unicorn through ultra-large-scale big data assets and M&A strategies, and we will strive to develop into a company that can bring pride to South Korea."

Meanwhile, Saltlux completed demand forecasting on the 7th and will conduct a public subscription for general investors on the 13th and 14th. The total number of shares offered is 750,000, with a public offering price range of 24,000 to 30,000 KRW per share. The expected maximum offering amount is approximately 22.5 billion KRW. The lead manager is Korea Investment & Securities. The KOSDAQ listing is scheduled for the 23rd.