Sphere Korea, 611% Sales Growth... Positive Outlook on Performance Boosted by Merger Synergy

On the 16th, Spear Korea, recently merged into Spear Corporation (formerly Life Semantics), announced remarkable growth.

According to the audit report recently submitted by Spear Korea, last year's sales amounted to 85.4 billion KRW. This represents a 611% increase compared to 12 billion KRW in 2023. During the same period, operating profit reached 15.1 billion KRW, and net profit was 12 billion KRW, marking approximately 1158% and 1233% growth respectively compared to the previous year.

Spear Korea is a company that develops and supplies superalloys and special alloys used in advanced materials for the aerospace sector, including engines and nozzles for rocket launch vehicles. It is recognized as one of the top five global suppliers in this field. Notably, it is the only Global Key Vendor in Asia.

In fact, Spear Korea continuously supplies special alloys to the world's largest private aerospace company and recently signed a large-scale supply contract on the 14th, accounting for 57% of its recent sales, demonstrating visible achievements. The annual usage of special alloys by this aerospace company ranges from 20 to 30 trillion KRW, with Spear Korea securing a 3-5% market share. Additionally, it has completed vendor code approval from the Space Distribution Center (SDC), establishing a stable trading foundation as a subsidiary.

Industry experts expect that Spear Corporation will experience a turning point in performance recovery and corporate value increase following this merger. Especially, aligned with the rapid growth trend of the global aerospace market, mid- to long-term expansion of orders and profitability enhancement are also anticipated.