FlexSystem Files Preliminary Listing Application, Begins KOSDAQ Listing Process

FlexSystem submitted a preliminary listing examination application to the Korea Exchange for a planned listing on KOSDAQ.

According to FlexSystem on September 22, this submission comes two months after passing the technology evaluation in July, with Daishin Securities serving as the lead underwriter. Established in 2001, FlexSystem is engaged in providing full-cycle aerospace and defense testing solutions, from development and mass production to operation, as well as developing aerospace sensors and conducting military aircraft component MRO (maintenance, repair, and overhaul) business. The company has supplied core test infrastructure necessary for the localization of aerospace and defense systems and has been showing rapid growth, with annual revenue in 2025 expected to more than double compared to the previous year.

FlexSystem is the only company in Korea with experience in building large-scale aerospace system test facilities. The company independently developed and constructed the propulsion test facilities for Naro (KSLV-Ⅰ) and Nuri (KSLV-Ⅱ) launch vehicles, as well as the integrated control and measurement system for the KF-21 Iron Bird. Notably, the KF-21 Iron Bird system, developed in-house over three years, provides the basis for integrated testing of the KF-21 in Korea without reliance on foreign technology.

Chunghwan Lee, CEO of FlexSystem, stated, “As the technological complexity of end-products increases and the cost of development failures rises, the technical and economic value of pre-verification testing equipment also grows. Through our KOSDAQ listing, we aim to expand investment in R&D and production infrastructure and strengthen our specialist workforce, evolving into a specialized aerospace and defense test solution company capable of supporting advanced domestically produced weapon systems.”

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