Aegis "Innovating Spatial Information with Digital Twin Platform" [Biz Leader]

Leading the Creation of Smart Cities and Hyperconnected Social Infrastructure
Providing Location-Based Portal Services
Preparing for the AR Device Era through IPO

[Asia Economy Reporter Kwangho Lee] “Aegis's spatial information technology proactively identifies urban and environmental issues and proposes solutions. We are striving to create a structure that naturally generates profits while having a positive impact on society. We plan to provide various solutions in line with the ESG era.”

Seongho Kim, CEO of Aegis, explained the company's vision after its KOSDAQ listing in an interview with .

Aegis is a spatial information platform company. It develops 3D spatial information digital technology and operates a digital twin platform. Based on the 3D Geographic Information System (3D GIS), it introduced ‘XD WORLD’ and succeeded in commercializing digital twin technology. It mainly provides services to the public sector, including the government and local governments. Through digital twins, which are virtual realities that replicate the real world, it solves various urban problems. It is especially optimized for smart cities and the foundation of a hyper-connected society.

Founded in 2001, Aegis developed a system that automatically constructs and analyzes 3D spatial information within just two years of starting its business. Over the past 21 years, it has secured unique technological capabilities and know-how. As a result, it completed the open platform ‘XDWORLD 1.0’ last year. This is regarded as laying the foundation for the full-scale commercialization of the still unfamiliar concept of digital twins.

CEO Kim said, “A digital twin can be understood literally as a twin converted into digital form,” and explained, “In 1999, U.S. Vice President Al Gore argued that the entire Earth should be converted into 3D digital form to enable simulations that can solve climate and urban problems.” He added, “Later, in 2002, Professor Michael Grieves of the University of Michigan first used the term digital twin.”

At that time, digital twins were applied only to parts, products, buildings, and factories, but now the term refers to digital replicas of cities, countries, and even the Earth itself. Since 2001, Aegis has been developing a 3D engine and currently possesses the only domestic digital twin platform with a digital earth environment equivalent to Google’s.

Aegis’s core service, ‘XDWORLD,’ is an open platform that simulates and analyzes a virtual world identical to the real world. It provides systematic solutions in five areas: disaster safety, facility management, integrated control, big data, artificial intelligence (AI), and digital twin utilization. The platform’s competitiveness is continuously strengthened by accumulating diverse data and content.

CEO Kim said, “We utilize the platform in various fields with public institutions, including monitoring and predicting, preventing, and responding to hazardous chemicals (toxic gases), floods, earthquakes, tsunamis, forests, underground facilities, and marine facilities,” adding, “Through the digital twin platform, it is possible to predict various problems in advance while saving costs and time.” He emphasized, “Not only public enterprises but also private companies use it. For example, simulations are conducted before installing 5G antennas. Various companies utilize Aegis’s platform.”

Recently, heavy rain from a typhoon caused significant damage. Analysts say that if Aegis’s platform had been used, the damage could have been minimized. For instance, it is possible to create navigation that ensures pedestrian safety during flooding to prevent accidents such as electric shocks, manhole incidents, and being swept away by currents. Also, the platform’s lowland analysis function can extract buildings where flood barriers should be installed.

Globally, companies capable of implementing such business models include the U.S. ESRI’s ArcGIS Online, MapBox, and Cesium Ion. Aegis, a leading domestic company, has different competitive advantages. Overseas platforms basically implement only lightweight data, and when implementing large-scale high-precision data (e.g., BIM, MMS, Point cloud), additional costs occur or separate software development is required. In contrast, Aegis overcomes data utilization limitations without additional charges or development through cloud services. This is possible because it supports various formats based on its proprietary technology XD BUILD (data authoring tool).

CEO Kim said, “Aegis’s platform allows numerical data to be uploaded to maps by drag & drop, automatically converting files, analyzing coordinates, and distinguishing layers all at once,” adding, “It also offers diverse SDK templates for developers, enhancing development certainty and applicability.” He continued, “Because the platform structure is ‘Web 3.0,’ it is more focused on service users.”

Aegis is steadily growing. It recorded sales of 11 billion KRW last year and aims for 16 billion KRW this year. It plans to increase platform subscription revenue. It has already signed a contract with Seoul Metropolitan Government. Seoul partnered with Aegis to predict administration through simulation for more efficient city management. More contracts are expected to follow.

To proactively respond to the government’s introduction of the digital service specialized contract system, Aegis completed cloud security certification from the Ministry of Science and ICT in August and is currently registering digital services. CEO Kim said, “The purpose of the government’s digital service specialized contract system is to foster digital services as a core industry in the Fourth Industrial Revolution era,” adding, “We believe that proactively promoting public digital service use will greatly contribute to the growth of related industries.” He emphasized, “Active government support is needed to build an ecosystem for domestic software and cloud core technology companies so that good intentions can be well reflected.”

CEO Kim also said, “In the past, maps were mainly used for war, urban construction, logistics, and travel, but in the future, the era will come when location information is actively utilized rather than passively viewed.” He added, “Following the platform, Aegis plans to launch a location-based portal service in preparation for the augmented reality (AR) device era,” and said, “Because real-time updated geographic information is needed, we plan to raise capital through an IPO to launch satellites.”

Aegis is attracting pre-IPO (pre-listing equity) investment. It plans to raise about 8 billion KRW next month. Previously, it received a 3 billion KRW investment from Vibe Company in August last year. Aegis is developing a metaverse platform together with Vibe Company. Meanwhile, it signed an IPO underwriting contract with NH Investment & Securities and is accelerating its KOSDAQ technology special listing aiming for mid-next year. Despite a sluggish investment market, Aegis’s valuation is increasing, attracting industry attention.