Zenoco, World's Fastest Satellite Communication Technology... Leading Aerospace Core

Aerospace and Telecommunications Company Genoco Newly Listed

[Asia Economy Reporter Hyungsoo Park] Aerospace and telecommunications specialist Genoco is showing strong performance on its first day listed on KOSDAQ.

As of 9:37 AM on the 24th, Genoco is trading at 74,000 KRW, up 13.85% from its opening price.

On this day, Genoco set its opening price at 65,000 KRW, which is 80.6% higher than the public offering price of 36,000 KRW.

Founded in 2004, Genoco is expanding its business areas including satellite payloads, satellite ground stations, electrical ground support equipment (EGSE), and avionics. Its major clients include Hanwha Systems, KAI, Korea Aerospace Research Institute, and Airbus.

Researcher Kyunggeun Kang of NH Investment & Securities explained, "With the expansion of government-led space development in both civilian and military sectors, orders for satellite launch projects are expected to increase," adding, "The government has established the '3rd Basic Plan for Space Development Promotion (2018?2040)' aiming for localization of key components and becoming a space power."

He continued, "As private companies such as SpaceX expand their entry into space development, global companies are accelerating their investments in space development," and added, "Based on stable growth in defense projects, the aerospace business will strengthen its growth momentum."

He emphasized, "We have secured core technologies in aerospace fields ranging from satellite ground stations to satellite payloads," and highlighted, "We succeeded in developing the ‘X-band transmitter,’ a satellite payload, for the first time in Korea."

Genoco achieves a world-class transmission speed of 720 Mbps, enabling the transfer of 10GB of data within 2 minutes. Genoco’s frequency X-band transmitter was installed on the first next-generation medium-sized satellite launched from Kazakhstan. On the 22nd, the Ministry of Science and ICT and the Ministry of Land, Infrastructure and Transport announced, “The first next-generation medium-sized satellite was successfully launched as scheduled at around 3:07 PM from the Baikonur Cosmodrome in Kazakhstan.”

At an online press conference held before the listing, Jongkwon Kim, Head of Management Support at Genoco, stated, "Through the secured space heritage, we will build close relationships with global top-tier companies such as AIRBUS D&S and Lockheed Martin, and secure additional sales in high value-added markets."