[AI Revolution](212) Reading the Context of Space... Maesa Masters Both Drones and Satellites

[Interview] Seokwon Choi, CEO of Maesa

'Proprietary 3D Engine' as a Core Differentiator

Expanding Image Analysis into Robotics

Aiming for Technology-Special IPO Next Year

"We carry out all types of businesses that understand and leverage the context of offline spaces. We are expanding our scope by integrating robots (Physical AI)."

Chul-won Choi, CEO of Maesa, is giving an interview with The Asia Business Daily. Photo by Dongju Yoon

MEISA is utilizing its proprietary 3D engine to capture ground, aerial, and space data. Achieving up to a 70% annual growth rate, MEISA has become the top company in the domestic spatial artificial intelligence (AI) sector and is preparing for a technology special listing next year.

Sukwon Choi, CEO of MEISA (pictured), said during a recent interview at the company’s Gangnam office in Seoul, "MEISA is the only company that has developed an in-house image analysis engine capable of extracting measurable 3D data," adding, "Because we can customize the engine, we are expanding not only into private construction sites and golf courses but also into public sectors such as national defense and defense industries." Revenue streams are divided between business-to-business (B2B) transactions based on closed-circuit (CC)TV and drone data, and business-to-government (B2G) transactions utilizing satellite data.

MEISA is the only domestic company that works with both drones and satellites. Choi emphasized, "Currently, drones are used in the private sector while satellites are primarily used in national defense. However, as technology advances and satellite resolution catches up to that of drones, the boundaries will blur," and added, "The core technology for image analysis is fundamentally the same. We are positioning ourselves as a company capable of handling both domains simultaneously."

Especially noteworthy is MEISA’s domination of the market with a solution that perfectly identifies design errors during the construction process at domestic construction sites. MEISA has signed contracts with 8 out of the nation’s top 10 construction companies, and its solutions have been deployed at over 250 sites. This stands in contrast to the world’s leading competitor from the United States, which withdrew after failing to adapt to the domestic construction industry environment despite operating in Korea through a branch structure. Furthermore, MEISA has formed a consortium with Hyundai Engineering & Construction and Pusan National University to win a Ministry of Land, Infrastructure and Transport’s Artificial Intelligence Transformation (AX) Sprint project. The company has broadened its field by engaging in high-tech research and development (R&D), obtaining and analyzing data via robotic dogs equipped with drones and LiDAR sensors, and enabling remote control operations.

Seokwon Choi, CEO of Mesa, is giving an interview with The Asia Business Daily. Photo by Dongju Yoon

MEISA’s journey from a student-founded startup in 2017 to its current dominant position has not always been smooth. Choi reflected, "When I first encountered drones in 2016, I thought deeply about industries where they could be utilized through software." He continued, "Among construction, agriculture, and facility safety management, we decided to target the construction site management market, where 'image analysis tech' is central, rather than the relatively small-scale agriculture market or the safety inspection field where control technology is more important."

However, there were concerns from those around us that, as a group of university students with no construction-related majors, it would be difficult to break into the large infrastructure industry. "There were tough moments and, to overcome them, we strengthened C-level talent recruitment," Choi explained. "We brought in a PhD in AI and former professionals from companies such as Samsung as co-CEOs, Chief Technology Officer (CTO), Chief Business Officer (CBO), Chief Strategy Officer (CSO), and Chief Product Officer (CPO), building up our manpower." Currently, nearly half of the workforce is dedicated to the R&D team.

MEISA is accelerating its global expansion. The first target market is Japan, which has a construction market structure similar to Korea. MEISA has outperformed local companies whose selling point was "We can be on site within 30 minutes," securing key references based solely on technology and product capabilities. "We have successfully established a presence by supplying our solutions to Japan’s top five construction companies, including Obayashi and Takenaka," he said, "and plan to expand into Southeast Asia through Japan."

Preparations for the initial public offering (IPO) are also progressing smoothly. Choi commented, "More than 15 institutions have participated in our funding rounds so far, demonstrating a high level of market trust," and added, "Rather than pushing sales aggressively to raise our valuation, we aim for steady growth." MEISA is currently undergoing a technical evaluation, with the IPO expected in the second half of next year following the exchange’s review.

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