Vessel "Vessel Aerospace Selects Samsung Securities as Lead Underwriter for IPO"

Vessel announced on the 23rd that its affiliate, Vessel Aerospace, has selected Samsung Securities as the lead underwriter for its initial public offering (IPO).

Regarding the selection of the lead underwriter, Vessel Aerospace explained, "We decided because they understood the company's value and demonstrated capabilities in underwriting and industry expertise."

Vessel Aerospace is an aircraft and related parts manufacturer that was separated and established from the KOSDAQ-listed company Vessel in 2019. It successfully developed the KLA-100, Korea's first two-seater light manned aircraft.

Since its days as Vessel's aviation division, Vessel Aerospace has been recognized for building a world-class autonomous flight system by undertaking major government projects and internal development projects such as the development of manned and unmanned vertical takeoff and landing aircraft (OPPAV) and autonomous flight operation systems for drones and other unmanned vehicles.

Recently, Vessel Aerospace unveiled the prototype of an autonomous flying personal aircraft (OPPAV), which is being developed as the first government-certified urban air mobility (UAM) vehicle in Korea, and the 'KLA-100E' model, a 100% electric-powered aircraft. In April, it was also selected as the lead research institution for a national project on hydrogen fuel cell propulsion systems for small aircraft, led by the Ministry of Land, Infrastructure and Transport. Accordingly, the company plans to develop an aviation safety certification system that meets international standards.

According to the company, the Korean government is also showing strong commitment to the commercialization of UAM. The Ministry of Land, Infrastructure and Transport plans to establish aircraft certification guidelines within the year to support demonstration projects. In the long term, international cooperation with Europe, the United Kingdom, and others will be further strengthened to support import and export of UAM aircraft and mutual certification cooperation.

Many experts worldwide expect UAM to be commercialized between 2024 and 2026. Global investment bank Morgan Stanley forecasts that the UAM market size will rapidly grow to $1.47 trillion (approximately 2,000 trillion KRW) by 2040.

A company representative stated, "The government has made UAM commercialization a national agenda and plans to expand it nationwide after the first commercialization in 2025," adding, "We expect our company to grow alongside the market expansion."

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