Gaon Media "Gaon Broadband, Full-Scale IPO 추진... Underwriter Selection Completed"

[Asia Economy Reporter Yoo Hyun-seok] Gaon Broadband, a network solutions specialist company, announced on the 13th that it has completed the contract for selecting an underwriter for its initial public offering (IPO), officially starting the listing process. Mirae Asset Daewoo was selected as the underwriter. The company plans to file a preliminary review for listing on the KOSDAQ through the Korea Exchange in the second half of this year.

Gaon Broadband is a newly established subsidiary created by the physical division of the network business division of AI total solutions company Gaon Media. It provides integrated network management services using not only broadband products but also proprietary solutions.

The company expects to attract significant market interest as it possesses essential network infrastructure construction technologies and solutions in the AI and 5G fields, which are core to the 4th Industrial Revolution and the post-COVID-19 era. In particular, due to the growth of the untact industry, demand for high-quality networks is expected to continue in the post-COVID-19 era, creating a favorable situation for corporate valuation.

Gaon Broadband will participate in the largest-ever public Wi-Fi construction project implemented by the government this year as part of the Digital New Deal policy. This is a nationwide school wireless network construction project promoted by the National Information Society Agency (NIA) in cooperation with the Ministry of Education and metropolitan and provincial offices of education. By May this year, wireless routers (APs) will be supplied to elementary, middle, and high schools in 12 out of 17 regions nationwide.

The total scale of this project amounts to 370.7 billion KRW, aiming to establish a future education foundation that utilizes smart devices and various content such as real-time remote classes, virtual reality (VR), and augmented reality (AR). As the importance of non-face-to-face classes increases, securing a leading reference for this national key task enhances the possibility of winning additional projects in the future.

Gaon Broadband continues to achieve more than double overseas sales growth annually through networks of global broadcasting and telecommunications operators, not only in domestic business. Last year, it supplied its self-developed remote control network terminal management solution ‘KRMS (Kaon Remote Management System)’ to major countries including the United States, Europe, and Japan.

A company official stated, “Since the physical division for Gaon Broadband’s focused growth, sales have sharply increased and transparency in the governance structure has been established, making a smooth IPO possible. This will be the cornerstone for Gaon Group to advance from its existing hardware-centered business area to a platform company based on highly profitable subscription services.”

Meanwhile, since last year, Gaon Media has been actively promoting new businesses through its subsidiaries Gaon Broadband and the smart IP content platform company Mobee-k.

This content was produced with the assistance of AI translation services.