Hancom Lifecare to Pursue Listing in the Second Half of This Year

[Asia Economy Reporter Buaeri] Hancom Lifecare, a subsidiary of Hancom, announced on the 19th that it has submitted a preliminary review application to the Korea Exchange for listing on the KOSPI.

The lead underwriter for the listing is Mirae Asset Securities. A Hancom official explained, "We plan to proceed with the initial public offering (IPO) process aiming for a listing in the second half of this year."

Established in 1971, Hancom Lifecare is a specialized personal safety equipment company supplying various safety gear such as air respirators, gas masks, heat-resistant suits, fireproof suits, and industrial masks. Based on 50 years of accumulated technology, it supplies products to fire departments and public institutions, holding a 93% market share in the domestic air respirator market.

It is also designated as a defense company and has developed and continuously supplies the new military gas mask, the K5 gas mask. Since being incorporated into the Hancom Group in 2017, it has been focusing on developing smart safety equipment utilizing various ICT technologies. Recently, it introduced a fire safety service platform linking local government CCTV video information and digital twin information from the Korea Land and Geospatial Informatix Corporation, and plans to build a smart city disaster safety solution integrating a fire monitoring system connected with drones.

Hancom Lifecare's sales last year reached 151.8 billion KRW, more than doubling compared to 2019, and operating profit grew 324% to 38.7 billion KRW.

Woo Jun-seok, CEO of Hancom Lifecare, said, "Through fundraising via the upcoming listing, we will strengthen core technological capabilities, pursue business diversification, and realize entering the global top 10 in the personal safety equipment field by 2025."