RideFlux Files for KOSDAQ Preliminary Review, Aims to Become Korea's First Listed Level 4 Autonomous Driving Company

RideFlux, an autonomous driving artificial intelligence (AI) software company, has officially begun the process of listing on the KOSDAQ. Following its achievement of an A grade from both agencies in a technology evaluation, the company submitted a preliminary review application, aiming to become Korea’s first listed Level 4 autonomous driving company.

RideFlux announced on August 18 that it submitted the preliminary listing application for the KOSDAQ to the Korea Exchange on August 14. The joint lead managers are Korea Investment & Securities and Woori Investment & Securities. The company is targeting a listing in the second half of this year.

Previously, in May, RideFlux passed the technology evaluation by receiving an A grade from both specialized evaluation agencies designated by the Korea Exchange. With the completion of the technology evaluation and the submission of the preliminary review, the initial public offering process is now in full swing.

Founded in 2018, RideFlux is an autonomous driving AI company that has independently developed core technologies for Level 4 unmanned autonomous driving, including perception and localization, decision-making and control, high-definition mapping, and remote operations. Based on its core software architecture, ‘RideFlux Driver,’ the company has secured universality that enables application across various vehicle types, including passenger cars, buses, and large trucks. The total cumulative investment raised is 88.2 billion won.

The company is also building a track record in demonstration and commercialization. RideFlux is the only company in Korea to have received an 'unmanned autonomous driving temporary operation permit' from the Ministry of Land, Infrastructure and Transport, which allows for operation without a safety operator in the driver’s seat. Leveraging this, the company has accumulated over 3,300 hours of demonstration data in the Sangam area of Seoul.

The company plans to launch an unmanned robotaxi public service in Sangam, Seoul, within this year. In this service, a safety manager will be seated in the passenger seat. In Busan, it is promoting a late-night Bus Rapid Transit (BRT) autonomous bus project, and also expanding into public transportation and mobility sectors such as Level 4 car-sharing pilots.

In particular, in the field of freight transport, the company has advanced to the commercialization stage, resulting in actual revenue. RideFlux became the first in Korea to obtain a ‘hub-to-hub’ paid freight transport permit connecting highways and urban sections. Since July, in partnership with Hanjin, it has been regularly operating 25-ton large-size autonomous trucks on the 116 km GunSan–Jeonju–Daejeon route.

Currently, the company is conducting additional negotiations with more than ten major logistics and manufacturing companies, and plans to expand autonomous freight transport routes to Gangneung, North Chungcheong Province, and Jeju. Its strategy is to cultivate not only robotaxis but also robotrucks as new revenue sources.

RideFlux is also taking part in large-scale demonstration projects. In collaboration with Hyundai Motor Group and others, the company is participating in a large-scale autonomous driving demonstration city project spanning Gwangju Metropolitan City. Building on this, RideFlux aims to accelerate nationwide commercialization of autonomous driving services.

Junghee Park, CEO of RideFlux, stated, “With top marks in the technology evaluation and paid transport achievements with top-tier logistics companies, we have proven both our technological strength and B2B business viability. Through a successful KOSDAQ listing, we aim to further advance our physical AI technology and become a leading Level 4 autonomous driving company not only in Korea but also in the global market.”

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