NEWEN AI (formerly RSN), a big data analysis company based on generative artificial intelligence (AI), announced on the 15th that it had received preliminary review approval for listing on KOSDAQ from the Korea Exchange. The lead manager for the listing is NH Investment & Securities.
Founded in 2004, NewenAI provides industry-specific subscription data analysis solutions based on AI technology. The company has the largest amount of data in Korea, approximately 180 billion cases, and has approximately 900 analysis models for each industry and business field. Through this, it is providing AI solutions specialized for various industries.
The main services include ▲'Quetta Enterprise', a corporate-tailored data analysis system, ▲'Quetta Service', a general data service, and ▲'Quetta Data', a data purification and processing specialized service. These services are based on 'Quetta', a colloquial language model developed by the company itself.
NewenAI has recorded an average annual sales growth rate of 17.5% over the past seven years from 2018 to 2024, and more than 90% of its total sales are generated in the private sector. In addition, it was found that it has secured a stable profit structure, with a long-term customer ratio of 73% and an average contract retention period of 10 years.
Previously, NewenAI received an A grade from NICE Information Service and the Korea Technology Finance Corporation in the technology assessment for KOSDAQ listing. This is the result of receiving excellent evaluations in the completeness of AI core technology, commercialization potential, and growth potential.
The company plans to use the funds raised through this listing to focus on expanding its business, including ▲ expanding research and development (R&D) to launch new AI products and ▲ building infrastructure to enter overseas markets.
Bae Seong-hwan, CEO of NewenAI, said, “With this listing as an opportunity, we will further accelerate the technological advancement of AI-based subscription solutions and the expansion of the global market,” and “We will strengthen our competitiveness in the AI market with solutions tailored to customers by industry.”
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