Iel, 9 Group Executives Follow Largest Shareholder in Buying Company Shares, Strengthening Responsible Management

Physical AI data platform company Iel is strengthening its commitment to responsible management, following its largest shareholder with a series of share purchases by group executives. Having recorded its highest quarterly revenue since its founding, the company has seen its executives buy shares directly, signaling their confidence in its future growth prospects.

Iel announced on November 5 that nine group executives had purchased the company's shares on the open market. According to disclosures, seven Iel executives had purchased shares by November 3. They were Chief AI Officer (CAIO) Jeong Munsik, Director of Management Support Lee Gangdeok, Auditor Baek Gyeongguk, Head of the Management Planning Office Park Seonae, Head of the Lighting Business Division Oh Jeonggeun, Head of the Information and Communications Technology (ICT) Research Institute Kim Taeguk, and Director of the Design Office Kim Sojin.

Although they were not registered or unregistered executives of Iel and were therefore excluded from disclosure requirements for executive share acquisitions, Iel Mobility CEO Shin Sangsik and Head of Business Management Kim Mingyu also joined the purchases. A total of nine group executives participated in the share purchases.

Earlier, the company's largest shareholder, Chair Song Seonggeun, also purchased 23,000 Iel shares on the open market last month using personal funds. The company said that, following the largest shareholder, executives from key business divisions and affiliates had also joined the purchases in succession, demonstrating the group's commitment to responsible management.

The purchases came as Iel posted its highest quarterly revenue since its founding in the third quarter. Iel's third-quarter revenue was KRW 33.4 billion, while its cumulative consolidated revenue and operating profit for the first three quarters were KRW 83.5 billion and KRW 5.1 billion, respectively. The robotics business, including the humanoid robot ILBOT, contributed approximately KRW 2.7 billion in revenue.

Building on its existing businesses, including automotive electronic components and intelligent transportation systems (ITS), the company is developing humanoids and Physical AI solutions as new growth drivers. It is using the injection-molding production line of its affiliate Iel Mobility as a testbed to verify the feasibility of applying humanoids to manufacturing processes. At RoboWorld 2026, which opened on November 4, the company is also presenting the status of proof-of-concept (PoC) trials at manufacturing sites.

An Iel representative said, "Although we achieved record results in the third quarter, executives agreed that market conditions have kept the share price from fully reflecting the company's growth prospects. Group executives have directly purchased shares out of confidence in the company's future and a sense of responsibility."

The representative added, "We will increase corporate value through the expanded supply of humanoids and the success of our Physical AI solutions business, and repay the trust of our shareholders."

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