Innotech, a company specializing in complex reliability environmental testing equipment, announced on the 29th that it had submitted a preliminary listing application for listing on KOSDAQ to the Korea Exchange. KB Securities was the lead manager for the listing.
Innotech, established in 2013, develops and manufactures complex reliability environmental testing equipment, flexible display inspection equipment, and special testing equipment. These equipments are key facilities used in product development, quality assessment, and pre-mass production verification stages in various industrial fields such as displays, automobiles, semiconductors, and secondary batteries.
In particular, the main product, the composite reliability environmental test equipment, is a device that precisely evaluates the presence of defects and the possibility of performance degradation in products under various temperature, humidity, vibration, and vacuum conditions, and is considered essential equipment for stable mass production and launching high-quality products.
Since its establishment, Innotech has focused on internalizing technology and localizing equipment. Accordingly, it has developed and supplied products with its own technology in a market that was previously heavily dependent on overseas products, and has the ability to provide integrated solutions (Total Solutions) including customer-tailored equipment design and maintenance.
Based on such technological prowess, Innotech has continued to expand its customer base and enter the global market, including ▲ registering as a tier 1 partner of Samsung Display in 2019, ▲ achieving $1 million in exports in 2020, ▲ registering as a partner of Samsung Electronics' Wireless Business Division in 2021, ▲ achieving $3 million in exports in 2022, ▲ registering as a partner of Samsung SDI in 2023, and ▲ establishing a Vietnamese corporation and achieving $5 million in exports in 2024. It is expected to achieve $10 million in exports in 2025.
Sales growth is also remarkable. Innotech recorded sales of ▲6.4 billion won in 2021, ▲8.8 billion won in 2022, ▲9.1 billion won in 2023, and ▲16.7 billion won in 2024, achieving an average annual sales growth rate (CAGR) of approximately 27.1% over the past four years. In particular, it is evaluated that market expansion based on technology is in full swing, with a performance increase of 82.7% year-on-year in 2024.
The company plans to expand its business beyond the display industry to various other upstream industries such as MLCC, electric vehicles, and semiconductors, taking advantage of its future KOSDAQ listing, and also to expand its production facilities to respond to the foldable and vehicle display sectors.
Jang Seok-jun, CEO of Innotech, said, “We have led the domestic production of reliability testing equipment through continuous research and development and technology accumulation,” and added, “We will continue to strengthen our position in the global market based on our technological competitiveness.”
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