Crowdfunding platform Crowdy (CEO Kim Ki-seok) announced today that it will conduct a securities crowdfunding for special purpose vehicle manufacturing company Sewoong Co., Ltd. (CEO Lee Jae-gyun) until April 22. Convertible bonds are scheduled to be issued through this funding.
Sewoong is a company established in November 2022, specializing in the production of military and special purpose vehicles, and has secured a steady cash flow by producing 90% of Kia Motors' military and special purpose vehicle exports. In addition, it has its own special purpose vehicle manufacturing line, directly manages the production process, and has quality competitiveness.
Sewoong has been continuing its growth trend, recording average sales of approximately 3 billion won and average net profit of approximately 200 million won over the past two years.
Through this crowdfunding, Sewoong plans to secure additional funds to accelerate expansion of production capacity and entry into overseas markets, as well as continue developing various special-purpose vehicles to further strengthen its competitiveness in the global defense market.
A Crowdy official said, “Sewoong is a company with production capacity and performance, and this funding will provide a foundation for taking the next step forward.”
Meanwhile, securities crowdfunding is a system introduced domestically in 2016, designed to allow startups and growing companies to receive direct investment from general investors. However, considering the high investment risk, the investment limit for general investors is limited to 5 million won per company.
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