Aerospace and defense specialist Genoco announced on the 25th that it has achieved orders worth approximately 100 billion KRW as of the fourth quarter of 2024.
Genoco plans to recognize over 40 billion KRW of its current order backlog as revenue for this fiscal year. If new sales are added, it is expected to set a record high in sales in 2025. This is seen as the result of continuous technological advancement and strategies to expand domestic and international markets.
In March this year, Korea Aerospace Industries (KAI) plans to acquire about 38% of Genoco's shares. Through this, Genoco is expected to establish itself as a key affiliate of KAI and grow into a company leading localization by securing outstanding technology in satellite communication and avionics components.
Additionally, Genoco is actively promoting offset trade by strengthening global partnerships. Offset trade is a mutual cooperation method that includes exporting domestic parts or transferring defense technology when importing overseas weapons and equipment.
It is used as an important means to promote industrial cooperation and technology exchange in large-scale contracts between countries. Based on this, Genoco has set a target of 120 billion KRW for its maximum order backlog in 2025 and plans to continuously strengthen its competitiveness not only in the domestic but also in the overseas defense market.
Yoo Tae-sam, CEO of Genoco, said, “Genoco’s technology is gaining more attention along with the development of the domestic aerospace industry,” and added, “Through cooperation with KAI, we will secure core technologies and further strengthen our position in the global market.”
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