Samyang Comtech, a K-defense ballistic solution company (CEO Kim Jong-il), announced on the 20th that it has submitted a preliminary review application to the Korea Exchange for listing on KOSDAQ. The lead underwriters are Shinhan Investment Corp. and NH Investment & Securities.
Samyang Comtech acquired a defense company established in 1962 in 2006 and, based on its deep understanding and technological expertise in ballistic materials, provides world-class material manufacturing and equipment protection solutions. It operates separate material and technology research institutes and possesses the world's largest mass production facilities for special ballistic ceramics and ballistic material structural manufacturing equipment, securing a one-stop ballistic solution from design to production and testing evaluation. Its main products include ground equipment protection products such as tanks and armored vehicles, personal protection products, and aviation parts.
In particular, Samyang Comtech operates Korea's first ballistic specialized testing institution certified by KOLAS (Korea Laboratory Accreditation Scheme), conducting in-house ballistic technology development and evaluation while also providing ballistic certification testing services for other companies. Starting with the development of special armor plates for the K2 Black Panther tank in 2008, it developed protection kits for small tactical vehicles in 2011, and in 2018 developed additional armor for 30mm wheeled anti-aircraft guns and command post wheeled armored vehicles. In the aviation sector, it has developed and mass-produced key parts such as ballistic kits, fuel tanks, and interior components for Surion helicopters and small armed helicopters, contributing to the enhancement of military combat power and achieving continuous technological innovation.
Amid increasing global geopolitical risks such as the Russia-Ukraine war and Middle East conflicts, Samyang Comtech is expanding exports leveraging the globally recognized K-defense industry and achieving strong performance. Sales grew from 44.8 billion KRW in 2021 to 84 billion KRW in 2023. Sales in the third quarter of last year reached 92.9 billion KRW with an operating profit of 8 billion KRW, and with the addition of fourth-quarter results, it is expected to achieve record-high performance. Particularly, exports have shown rapid growth, increasing from 1 billion KRW in 2021 to 21 billion KRW in 2023, and reaching 53.8 billion KRW by the third quarter of 2024, indicating a sharp rise in export ratio.
Through its KOSDAQ listing, Samyang Comtech plans to advance as a cutting-edge global ballistic solution company by ▲strengthening research and development and production capabilities ▲relocating factories and research institutes ▲automating M&S business.
Kim Jong-il, CEO of Samyang Comtech, stated, "Through this KOSDAQ listing initiative, we plan to further strengthen the company's technological capabilities and competitiveness and expand our position in the global ballistic market. We will continue to provide the best ballistic solutions to our customers through ongoing research and development and facility expansion."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
