[Market Focus] Smart Radar System Surges on LG Innotek Investment

As of 9:25 a.m. on September 3, the share price of Smart Radar System on the KOSDAQ market was up 18.87% from the previous closing price, trading at 9,700 won. This surge appears to be due to the company's announcement the previous day that its board of directors had decided to issue new shares through a third-party allotment to LG Innotek.

The day before, Smart Radar System announced that it would issue approximately 800,000 new common shares to raise about 5.9 billion won in operating funds. Regarding the selection of LG Innotek as the recipient of the third-party allotment, the company stated, "Through close cooperation, we aim to jointly pursue innovative business models and maximize sustainable growth and shareholder value with a reliable partner," adding, "The selection of LG Innotek as the recipient of this third-party allotment goes beyond simply attracting investment. The board of directors made this decision to realize our mid- to long-term vision and strengthen our competitiveness."

With this capital increase, LG Innotek will secure a 4.9% stake in Smart Radar System based on common shares. The issue price for the new shares is 7,326 won, with payment due on December 1. The expected listing date for the new shares is December 16.

Smart Radar System is a developer and manufacturer equipped with expertise in designing non-uniform array antennas, which are core to 4D imaging radar, as well as advanced real-time radar signal processing technology and AI-based object recognition algorithms. The company is expanding into various Fourth Industrial Revolution sectors by platformizing its 4D imaging radar technology, which has been validated in autonomous driving.

Smart Radar System is collaborating with companies in South Korea, the United States, Europe, and Japan in markets such as autonomous vehicles, agricultural machinery, special vehicles for ADAS, and special transport vehicles for workplace accident prevention. In the drone sector, the company exports products for the anti-drone market and is also developing radar to be applied to delivery and pesticide-spraying drones. Leveraging the high accuracy in situational awareness and privacy protection unique to 4D imaging radar, the company has also entered the healthcare markets in South Korea and Japan.