"The title of first drone company to go public? You can count on it."
Choi Jae-hyuk, CEO of Nearthlab, expressed this confidence in an interview with Seoul Economic Daily on January 26 at BEXCO in Busan, where Drone Show Korea 2026 was being held.
Nearthlab, a drone development startup, is currently preparing for a technology-based special listing. The company has appointed Samsung Securities as its lead underwriter and received an A grade in technology evaluation from eCredible and Korea Technology Finance Corporation in December last year. The company has outpaced competitors racing for the title of first drone startup to go public by securing the technology evaluation first. Nearthlab is now focused on filing for a preliminary listing review with Korea Exchange, aiming to enter the KOSDAQ market within this year.
"I don't view this simply as a milestone for Nearthlab alone," Choi said. "I want our listing to serve as a signal flare for more drone companies to gain recognition in capital markets and expand their businesses."
Choi also addressed concerns about financial metrics that have been raised regarding recent technology-based special listings. "Since launching our defense products, contract wins including overseas exports have been growing rapidly," he said. "Our revenue increased approximately 6.6 times last year compared to 2024."
As Choi explained, Nearthlab entered a full-fledged growth trajectory two years ago when it began developing military drones. The company's main military drone products are "Kaiden" and "Jaiden." Kaiden is a suicide drone standing 20 centimeters tall with a missile-like appearance that takes off vertically to intercept enemy drones in mid-air. Jaiden is a suicide drone that carries 60mm mortar rounds to attack ground targets from the air. Jaiden features multiple units conducting autonomous flights while organically executing missions together.
Both models have become star products for Nearthlab since their launch. Last year, the company signed an export contract worth $10 million (approximately 14.3 billion won) with a Middle Eastern country. "Going forward, we will achieve profitability next year by combining proven operating revenue with our high-value-added defense business structure," Choi said.
When asked about plans for IPO proceeds, Choi responded that the company would "focus investment on two areas: maintaining our technological edge and global business expansion." He added, "We plan to invest funds in strengthening intelligent drone technology while using IPO proceeds to establish local subsidiaries for entering Western markets including the United States and Europe."