Space Company Bought by Individual Investors for 100 Billion Won Triples in Value One Month After Listing

Nara Space: Small Satellite Design, Manufacturing, Operation, and Analysis Services
Selected for National Project on 'Development of Space Semiconductor Verification Payload'

The market capitalization of Naraspace Technology, which was listed on the KOSDAQ market last month, has more than tripled within just one month. The company's unique business model, which encompasses both the development and operation of small satellites, is receiving high praise in the stock market.

According to the financial investment industry on January 22, Naraspace was listed on the KOSDAQ market on December 17, 2025, with an initial public offering price of 16,500 won, and closed at 53,100 won the previous day. The stock price has risen by 221.8% in just over a month. The market capitalization has grown from 190 billion won at the IPO price to 613 billion won.

During this period, domestic institutional investors recorded a cumulative net sale of 46.3 billion won, while individual investors purchased 104.3 billion won worth of shares. The average purchase price for individual investors was 38,400 won, resulting in an average return of 38%.

Naraspace has recently been attracting attention for securing technological capabilities across all areas of the small satellite business. While most domestic aerospace companies focus on either satellite manufacturing and operation (upstream) or the sale and analysis of image data (downstream), Naraspace provides a full suite of services, from satellite manufacturing and operation to analytics.

Jung Jisoo, a researcher at Meritz Securities, explained, "The small satellite platform business provides turnkey services centered on satellite body development and payload integration," adding, "Customers can address everything at once, from satellite manufacturing and launch to operation and data utilization."

He further noted, "We offer a variety of small satellite platforms ranging from 6U to 16U, as well as custom services that apply various payloads such as optical or communication equipment according to customer needs."

The fact that Naraspace has a 'track record proven in space' is also driving the recent stock price increase. On November 12, 2023, Naraspace successfully launched and established communication with its self-developed small satellite, Observer-1A. In the space industry, reliability cannot be fully guaranteed through ground testing alone, and the ability to operate normally in actual orbit is the standard by which technological capability and stability are measured.

The company's selection for a recent government research project has also fueled growth expectations. Naraspace was chosen as the executing institution for the "Space Semiconductor Verification Payload Development and Demonstration Small Satellite Design Service" under the Space Aviation Semiconductor Strategic Research Group, a global top strategic research group of the Ministry of Science and ICT. The goal is to verify the reliability and adaptability of domestically produced space semiconductors in actual space environments. Naraspace will develop both the verification payload and the satellite body to carry it, then proceed with launch and orbital deployment, collect long-term data, and conduct reliability verification. The securities industry has viewed this as an example that demonstrates Naraspace is a company capable of providing "demonstration infrastructure," going beyond simply securing research and development contracts.