Innospace, Listing Milestone "Leap to Space Mobility Company"

First Trading Day on KOSDAQ Market on the 2nd
Stock Price Falls Compared to IPO Price

Innospace, a space launch vehicle startup led by CEO Kim Su-jong, declared on the 2nd that it will leap forward as a "global space mobility company" ushering in the era of space transportation, coinciding with its stock trading debut on the KOSDAQ market.

At the KOSDAQ market listing ceremony, Innospace executives including CEO Kim Sujong (center, second row), Head of Research and Development Jung Hoon (right, second row), and Head of Management Support Kim Chanjung (left, second row) are posing for a commemorative photo. Photo by Innospace

The Innospace listing ceremony held at the Korea Exchange Seoul building was attended by CEO Kim Su-jong, Head of R&D Division Jung Hoon, Head of Management Support Division Kim Chan-jung, other executives and employees, as well as representatives from Mirae Asset Securities, the lead underwriter.

Through the funds raised from the listing, Innospace plans to utilize them for ▲expanding facilities to increase launch vehicle production capacity ▲strengthening R&D for launch vehicle weight reduction and reusability ▲securing overseas market channels ▲attracting talented personnel, thereby establishing a foundation for mass production to support multiple launch operations and expanding business areas, accelerating its leap toward becoming a global space mobility company.

CEO Kim Su-jong said, "By entering the KOSDAQ market, we have set a new milestone as the first domestic private space launch vehicle company to be listed," adding, "Innospace will accelerate the development of space launch vehicles aiming for early market entry and grow into a company competitive in the global space market by providing customer-centered, stable launch services."

Meanwhile, Innospace's stock price was initially listed at 43,900 KRW, slightly higher than the public offering price of 43,300 KRW, but as of 10:33 AM, it has fallen by 7.97%.