Younglimwon Soft Lab "We Will Become Asia's No.1 ERP Company"...Listing on KOSDAQ Next Month

by Keum Boryeong

Published 23 Jul.2020 17:23(KST)

More than 90% of Technical Staff Possess ERP Expertise... Over 60% Have Worked for More Than 10 Years

Kwon Young-beom, CEO of Younglimwon Soft Lab, is explaining about the company at an initial public offering (IPO) press conference held on the afternoon of the 23rd at Hanwha Financial Center in Yeouido, Yeongdeungpo, Seoul.

[Asia Economy Reporter Geum Bo-ryeong] "We will become Asia's number one ERP (Enterprise Resource Planning) company."

Global ERP platform developer Younglimwon Soft Lab held an initial public offering (IPO) press conference on the 23rd at the Hanwha Financial Center in Yeouido, Yeongdeungpo, Seoul.

Founded in 1993, Younglimwon Soft Lab's main business is the development and sales of ERP platforms. They build ERP platforms tailored to corporate environments and support system maintenance and management through continuous upgrades.

CEO Kwon Young-beom of Younglimwon Soft Lab believes the company's competitiveness comes from its human resources. More than 90% of the company's workforce consists of technical personnel with ERP expertise. CEO Kwon explained, "We are a company with professionalism," adding, "Over 60% of our employees have worked here for more than 10 years."

Based on 28 years of technical know-how and service experience, Younglimwon Soft Lab has provided ERP packages to about 2,000 companies. Their projects span various industries including manufacturing, food and distribution, chemical materials, medical and electronics, IT and machinery, public projects, apparel and furniture, and foreign companies.

The ERP platform is divided into two types: on-premise and cloud-based. The on-premise options include process-based 'K-System Ace' and 'K-System Genuine,' while the cloud-based option includes 'K-System Ace on Cloud.'

Younglimwon Soft Lab plans to strengthen its cloud ERP business. The advantage of cloud ERP is the reduced burden of ERP implementation costs and the ability for customers to select and operate process modules step-by-step according to their management environment. The company aims to have 1,500 users by 2025.

They are also expanding into the global market. In 2017, they established a Japanese subsidiary, 'EverJapan,' to enter the Japanese market. Last year, they strengthened their position by forming partnerships with 10 Japanese software suppliers. The Indonesian market is also an opportunity for Younglimwon Soft Lab. CEO Kwon said, "Indonesia, which is nationally promoting the development of five major manufacturing industries, is also activating ERP adoption for advanced corporate management methods. We launched a cloud ERP product in 2018 and achieved partnerships with three local companies." Additionally, they have secured clients in Vietnam, China, and Hungary.

The total number of shares offered by Younglimwon Soft Lab is 1.79 million. The desired public offering price per share is between 9,500 and 11,500 KRW. Through this offering, they plan to raise up to approximately 19.6 billion KRW. The final offering price will be determined through demand forecasting targeting institutional investors on the 27th and 28th, followed by a general subscription on the 3rd and 4th of next month. The raised funds will be used for research and development (R&D) to develop additional processes by country and to establish a global R&D center. The listing is scheduled for next month. CEO Kwon emphasized, "After listing on the KOSDAQ market, we will continue R&D and global market expansion to grow as Asia's leading company in the ERP field."