[Asia Economy Reporter Hyungsoo Park] Gisan Telecom has been on the rise for two consecutive days. This appears to be influenced by the announcement of an expansion plan by Crown Prince Muhammad bin Salman of Saudi Arabia to enlarge the international airport in the capital Riyadh to become the world's largest.
As of 9:36 AM on the 30th, Gisan Telecom is trading at 3,900 KRW, up 11.59% from the previous day.
According to Saudi state media SPA, Crown Prince bin Salman announced in a public statement that the King Khalid International Airport in Riyadh will be significantly expanded and transformed into the world's largest international airport. The new airport will be renamed 'King Salman International Airport,' and it is planned to be a mega airport covering 57㎢, including the existing King Khalid International Airport site. Saudi Arabia plans to invest 1 trillion USD (approximately 1,338 trillion KRW) in expanding the tourism industry, including the construction of King Salman International Airport, to transform the country into a tourist destination. This budget exceeds the 670 trillion KRW 'NEOM City' new town project.
This is expected to be promoted as part of Saudi Arabia's mega construction project 'Vision 2030.' Through the expansion of this airport, the population of Riyadh is also targeted to increase significantly from the current approximately 7 million to 20 million by 2030.
Mophions is the first and only domestic company that develops, manufactures, and supplies aviation navigation safety systems. Gisan Telecom introduced it as one of the players active in a market with only about five companies worldwide. Aviation navigation safety systems are universally used systems worldwide according to the standards set by the International Civil Aviation Organization (ICAO) to ensure the safe operation of aircraft. Domestically, these systems are installed and operated in more than 20 locations including Seoul (Seongnam) Airport and Gimpo International Airport, Gimhae (Busan) International Airport, and Jeju International Airport, which are used by the presidential aircraft and state guest aircraft. They have been installed and operated in over 200 locations across 15 countries worldwide including Iran, Turkey, Saudi Arabia, India, Indonesia, Thailand, and Bhutan, proving their performance.
The advantages of Mophions' systems include operator-friendly operation programs, high precision, and price competitiveness. The main customers are governments and agencies responsible for each country's air traffic infrastructure, and the systems are supplied through international competitive bidding. Since exports began in 2008, most have been direct exports. The sales network shares system supply, installation, and customer support through business partnerships with local companies in each country.
Gisan Telecom holds 81.69% of Mophions' shares.
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