Newn AI Receives Preliminary Listing Approval: "We Will Achieve Technological Advancement and Global Expansion"

Founded in 2004... Annual Growth Rate of 17.5%
Enterprise Subscription Services Based on AI

Newn AI, a big data analysis company based on generative artificial intelligence (AI), announced on the 15th that it has received preliminary approval for listing from the Korea Exchange. NH Investment & Securities is the lead underwriter for the listing.

Founded in 2004, Newn AI provides enterprise subscription services based on AI technology. With a data volume of 180 billion records, which is the core foundation of AI technology, it possesses 900 analysis models tailored to various industries and business sectors, offering optimized solutions across diverse industries.

It operates a customer-tailored subscription AI solution business centered on the colloquial language model-based 'Quetta' service. Its main services include ▲customer-customized data analysis system 'Quetta Enterprise' ▲general-purpose data provision service 'Quetta Service' ▲data refinement and processing service 'Quetta Data.'

Newn AI has recently recorded an average annual sales growth rate of 17.5% over seven years (2018?2024). More than 90% of total sales come from the private sector. The proportion of long-term customers exceeding three years is 73%, with an average contract duration of 10 years.

Previously, Newn AI received A and A grades respectively from NICE Information Service and Korea Technology Finance Corporation in the technical evaluation for KOSDAQ listing. The funds raised through this listing are planned to be used for ▲research and development for new product launches ▲various expenses for overseas market expansion.

Baesunghwan, CEO of Newn AI, stated, "Through the KOSDAQ listing, we will achieve technological advancement and provide new changes unique to Newn AI to more and diverse customers on the global stage."