[Public Notice+] Vesel, Last Year's Sales 68.7 Billion KRW, Up 70% YoY

[Asia Economy Reporter Minji Lee] VESSEL, a KOSDAQ-listed company, announced on the 26th that despite the impact of the novel coronavirus disease (COVID-19) last year, it turned a profit and recorded individual sales of 68.7 billion KRW, marking a 70% growth compared to the same period last year.

According to VESSEL's preliminary performance results for last year, the company achieved an operating profit of 4.7 billion KRW and a net profit of 6.6 billion KRW on an individual basis, turning profitable compared to the previous year. A VESSEL representative stated, “Although performance was somewhat sluggish in 2019, in 2020, despite the impact of COVID-19, steady demand for displays was maintained, resulting in both operating and net profits turning positive.”

VESSEL has completed the development of heat treatment equipment essential for OLED processing and plans to launch it in the second half of this year. This market currently has a scale exceeding 150 billion KRW. The company aims for a 20% market share over the next year, expecting OLED-related sales to soar vertically.

Interest in its subsidiaries is also growing. VESSEL Aerospace, a subsidiary, is currently participating in various national projects and establishing its presence in the aircraft market. It is involved in the development of drone taxis (manned/unmanned hybrid distributed propulsion vertical takeoff and landing flight prototypes), which are gaining attention as a central means of future transportation, with a development completion target set for 2023.

Development is also underway for unmanned aerial vehicle systems capable of vertical takeoff and landing and high-speed flight, intended for marine safety and fisheries ecosystem management technology. Through this, the company aims to secure multi-purpose unmanned platform design technology and dominate the mobility market. Currently, VESSEL Aerospace is preparing for an initial public offering (IPO) and recently succeeded in attracting investment by gaining recognition for its KLA-100 and unmanned aerial vehicle technologies.