Genoco Surpasses 105.1 Billion KRW in Q3 Order Backlog... "Accelerating Leap in Space Industry"

Genoco announced on the 14th that it has set a new order backlog record of 105.1 billion KRW for the third quarter of this year. This represents a 42% increase compared to the same period last year. The company achieved sales of 42.9 billion KRW in the third quarter, a 21% rise year-on-year, while recording an operating loss during the same period.

Genoco’s shift to a deficit this time is the result of increased investments to secure future growth engines. The company stated that it will make every effort to rebound its performance by the end of the year and plans to continue sales growth in line with market trends.

Genoco is expanding its sales by gaining recognition for its avionics components and technological capabilities in major industry projects. In particular, it continues to supply government-led projects and key aerospace sector projects, maintaining stable growth. The company is securing future growth potential by expanding its portfolio of high value-added products.

As the only domestic company supplying products across all sectors of the space industry, Genoco has succeeded in domesticating Korea’s first Interference Blocking Unit (IBU) with its unique technological prowess. It has also independently developed a variety of product lines including core communication components for satellite bodies and payloads, as well as ground equipment, supplying key communication parts for major domestic satellite projects including the next-generation medium-sized satellite project.

Recently, Genoco signed an MOU with the U.S. defense contractor Northrop Grumman, anticipating hardware supply for laser mine detection equipment for mine countermeasure helicopters, thereby solidifying its important position in the overseas defense market. Through this, Genoco expects continuous growth in the global defense and space industries going forward.

A Genoco representative said, “As demonstrated by our recent order performance, Genoco’s core technological competitiveness is recognized in the space and defense sectors. Based on this, we are striving to build a stronger foothold in the aerospace, space, and defense markets through steady technological innovation and expansion of our global network.” He added, “We plan to strengthen R&D investments to play a leading role in the global market through various business opportunities and continue growth in key areas of space and defense.”