Daegu City Fund Investment Company MicroNEX Listed on KONEX... Achieves 10 Billion KRW Sales This Year

Micro N X, a dental medical device company headquartered in Daegu.

[Asia Economy Yeongnam Reporting Headquarters Reporter Koo Dae-sun] Medical device company MicroNex (CEO Lee Jong-geon, Jung Jae-kyung), which received investments from Daegu City Innovation Growth Fund, was newly listed on the KONEX market on the 21st.

MicroNex is a company that develops and manufactures dental medical devices such as implant surgical devices, electric motor systems, and various dental laboratory supplies. It has supply contracts with leading domestic implant companies and is actively exporting.

Since its establishment in July 2001, the company has shown continuous growth every year, and this year’s sales are expected to significantly increase to 10 billion KRW compared to 7 billion KRW last year.

MicroNex’s recent listing was made possible through funding from the venture investment fund established by Daegu City and a customized listing support program for companies, with thorough preparation in connection with the lead underwriter Kyobo Securities.

The KONEX market is the third stock market following the KOSPI and KOSDAQ markets, specialized for early-stage small and venture companies.

In Daegu, following Daesung Hightech’s KOSDAQ listing in August after four years since 2018, the number of listed companies in the region has increased to 55 with MicroNex’s listing.

Lee Jong-geon, CEO of MicroNex, expressed his ambition, saying, “We will use this KONEX listing as a stepping stone to expand new domestic and international clients and focus on research and development, aiming to challenge the KOSDAQ market in the future.”

Daegu City is currently operating a venture fund worth 500 billion KRW to supply investment to local companies with promising technologies and products, setting a goal to newly list 10 companies by 2026.

To this end, in September last year, a business agreement was signed with major local economic institutions (Daegu City-Korea Exchange-Korea Securities Depository-Daegu Bank-Hi Investment & Securities-Daegu TP).

Lee Jong-hwa, Deputy Mayor for Economy of Daegu City, said, “Unlike in the past, it is now an era where startups in local areas can expand globally,” and added, “We hope that more local companies will proceed to listing by utilizing Daegu City’s venture fund and support programs.”

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