CNT Tech to Take First Step Toward AC Listing... Preliminary Review Application Planned for End of Next Month

CNT Tech to File for Preliminary Listing Review at the End of May
Transitioning from Foodtech to Venture Studio to Highlight AC Revenue

As CNT Tech plans to file for a preliminary listing review at the end of next month, attention is focused on whether it could emerge as a new alternative in the accelerator (AC) ecosystem, which currently lacks strong capital resources.

According to the AC industry on April 21, CNT Tech intends to submit its preliminary listing review application to the Korea Exchange at the end of next month. It has been two years since CNT Tech voluntarily withdrew its previous attempt, citing that its achievements as an AC were not properly recognized. Founded in 2003, CNT Tech began as a food ordering and brokerage platform service provider and expanded its business into the AC sector in 2012. The company, led by CEO Chun Hwa-sung, is reportedly preparing diligently for the necessary procedures.

To highlight its achievements as an AC, CNT Tech chose to convert its existing foodtech business into a venture studio (an in-house investment subsidiary that establishes and nurtures startups). This decision follows the amendment to the Enforcement Decree of the Act on Special Measures for the Promotion of Venture Investment in August 2023. Previously, the decree limited the eligible subsidiaries or invested companies of an AC to early-stage startups that the AC had directly selected or nurtured. However, with the removal of this stipulation, the scope has broadened significantly.

CNT Tech's revenue streams include software platforms (foodtech), AC operations, and other service provisions, with the software platform segment accounting for approximately 31.60% of total sales. Revenue from software platforms is now recognized as venture studio revenue, which is expected to further highlight CNT Tech’s positioning as an AC.

CNT Tech’s sales were 28.1 billion won in 2023, 27.9 billion won in 2024, and 31.2 billion won in 2025. Operating profit during the same periods was 5.3 billion won, 3.1 billion won, and 6.3 billion won respectively.

CNT Tech’s listing plan is drawing attention from the AC industry, as it could present an alternative for ACs that have low equity capital ratios (the ratio of equity capital to total assets). According to the Science and Technology Policy Institute (STEPI), as of June 2024, an analysis of 463 domestic ACs showed that the average capital was about 2 billion won, and approximately 34% were in a state of capital erosion. Strengthening the capital base of ACs is also viewed positively for startups that require follow-up investments.

If CNT Tech succeeds in becoming the first AC to go public, it may pave the way for other ACs to pursue initial public offerings (IPOs). IPOs have long been a major topic of interest within the AC industry, with some ACs having temporarily halted their IPO plans. Bluepoint Partners attempted to go public twice, in 2020 and 2023, but withdrew both times. In particular, in 2023, after passing the preliminary review, Bluepoint Partners postponed its IPO due to a direct correction request from the Financial Supervisory Service ahead of the demand forecast, making it impossible to meet the planned timeline. FuturePlay also selected a lead manager for an IPO in 2021, but the process stalled. However, FuturePlay is currently reported to have no IPO plans.

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