E8, Aiming to Become a Top-Tier Player in the 180 Trillion KRW Digital Twin Market with Unique Domestic Technology

On the 23rd, E8, the first simulation-based digital twin platform company in Korea, announced that it has completed the listing process and successfully listed on the KOSDAQ market.

In the institutional demand forecast conducted earlier, E8 set the public offering price at 20,000 KRW, exceeding the expected band (14,500 to 18,500 KRW). Approximately 1,600 institutions participated in the institutional investor demand forecast. Among the participating institutions, 91.76% offered prices exceeding the upper limit of the public offering price band, leading to continued success in the general public offering as well. The demand forecast recorded a competition rate of 631 to 1, and the general subscription recorded 381 to 1, with subscription deposits totaling approximately 1.0767 trillion KRW.

Founded in 2012, E8 commercialized 'NFLOW,' a particle-based simulation software that complements the limitations of existing foreign simulation software, using purely domestic technology for the first time in Korea in 2019. In 2021, the digital twin platform 'NDX PRO,' developed with proprietary technology, integrated various element technologies such as artificial intelligence (AI), IoT, cloud, and 3D visualization, enhancing technological competitiveness and expanding market share.

Starting with the Sejong 5-1 Smart City project in 2022, E8 has been expanding platform supply to large-scale national institutions such as the Busan EDC Smart City. The company is extending its reach into various industrial sectors including secondary batteries, building energy management, food, manufacturing, aviation, aerospace, and medical fields.

Kim Jin-hyun, CEO of E8, said, "Like many companies, preparing for this listing allowed us to objectively review our company through the IPO process and redefine the direction we need to move forward." He added, "We will continuously communicate with our shareholders to grow the company together, establish shareholder-friendly policies, and fulfill our corporate social responsibilities." He also expressed gratitude, saying, "We thank the investors who believed in E8’s technology and future and invested so that we can compete as a leading Korean company in overseas markets."

Meanwhile, the global digital twin market is expected to grow at an average annual rate of over 30%, becoming a massive market worth 180 trillion KRW by 2028.