CNM Files for KOSDAQ Preliminary Review, Aiming to Become a Global Leader in Electric Drive Solutions

CNM, a company specializing in electric drive solutions, has submitted a preliminary application for KOSDAQ listing and has officially begun its initial public offering (IPO) process. Having established a stable performance base primarily through automotive electrification components, the company plans to secure new growth engines by expanding into business areas such as artificial intelligence (AI) data centers, robotics, and defense industries.

On September 10, CNM announced that it had submitted the preliminary review application for KOSDAQ listing to the Korea Exchange. The lead underwriter is Korea Investment & Securities, and the company aims to be listed within the year.

CNM traces its origins back to 1980 when it started as the motor business division of LG Electronics, amassing over 45 years of core motor technology. Since its spin-off in 2006, the company has established an in-house system that develops and manufactures precision cores—the key components of motors—winding stators, finished motors, and integrated electric drive modules.

Its business structure, once focused on home appliances, has shifted to center on automotive electrification components. In 2025, the company recorded consolidated sales of 238.5 billion won, operating profit of 21.3 billion won, and net income of 19.8 billion won. The automotive electrification business accounted for 64.1% of total revenue, driving the company’s performance.

The company has also secured a global production and customer base. In addition to its headquarters in Gimhae, CNM operates three domestic factories in Asan and Busan, as well as two overseas subsidiaries in Nanjing and Yantai, China. Based on this infrastructure, the company supplies core electrification components to global automakers and Tier-1 suppliers, and, according to the company, its products are provided for premium vehicle models of brands such as Volvo, Mercedes-Benz, BMW, Audi, and Tesla.

With the planned listing, CNM intends to launch full-scale new businesses in advanced industries based on its existing automotive electrification operations. Its strategy is to focus on areas where it can leverage its existing motor technology and production infrastructure, reducing trial and error in development and mass production processes.

The main new businesses include cooling systems for AI data centers, electric drive solutions for robotics, and electric propulsion modules for defense and unmanned aerial vehicles.

As demand for cooling increases due to the expansion of server capacity in AI data centers, CNM is pursuing joint development and mass production of 8-kilowatt (kW) and 4-kilowatt EC motors for data center heating, ventilation, and air conditioning (HVAC) systems with major customers.

In the robotics sector, the company is working on developing actuators for the joints of humanoid and quadrupedal robots. The plan is to expand its electric drive technology—utilizing motors, reducers, and controllers—into the robot joint drive market.

For the defense sector, CNM is working to localize high-output electric propulsion modules for unmanned aerial vehicles and drones. Leveraging its existing motor technology, the company aims to develop and commercialize these products, securing future growth engines.

Hyungga Kim, CEO of CNM, stated, "Since 1980, CNM has built on the technological heritage and expertise of LG Electronics' motor division, establishing itself as a leading electric drive solution company with proven mass production capabilities in home appliances and the automotive electrification market. Through the upcoming KOSDAQ listing, we will leverage our validated core motor technology in advanced industries such as AI data centers, robotics, and unmanned defense systems, and transform into a global leader in electric drive solutions."

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