Contec Passes Preliminary Review for KOSDAQ Listing

Space industry specialized startup Contec announced on the 8th that it has officially entered the KOSDAQ listing process after receiving preliminary listing approval from the Korea Exchange on the 7th.

Contec is a company that provides total services covering the entire value chain required in the space industry, including installing ground stations at major locations worldwide, controlling satellites, receiving and processing satellite images, and analyzing them. It owns and operates 8 ground stations globally (with plans to build 15 by 2024) and is the first to provide such services domestically in Korea.

In particular, Contec's GsaaS (Ground Station as a Service) network solution offers monthly reception of thousands of satellite data transmissions to global clients owning satellites worldwide. During the recent Nuriho launches (2nd and 3rd missions), Contec's ground stations were used to communicate with the onboard satellites, successfully completing the missions.

The space industry has recently seen active entry by private startup companies. The number of satellites worldwide is currently around 3,000 and is expected to increase more than tenfold over the next decade. As the number of satellites increases, ground stations, which are essential for receiving data, face technical and cost limitations when built and operated independently. Therefore, demand for services utilizing Contec's globally established ground stations is expected to grow explosively.

Furthermore, Contec is preparing to launch a satellite image utilization platform that maximizes added value based on satellite imagery. For example, by applying artificial intelligence (AI) deep learning technology, it enables analysis for industrial and natural disaster monitoring, port monitoring, and more. Contec plans to expand its business areas in satellite image sales and utilization analysis with the scheduled launch of its own satellite (1.5m resolution) in the first quarter of 2024.

Contec plans to submit a securities registration statement to the Financial Services Commission within this month, aiming for a KOSDAQ listing in the second half of the year, with Daishin Securities as the lead underwriter.

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