Nuen AI on Track for KOSDAQ Listing, Files Registration Statement

AI analysis specialist company Nuen AI (formerly RSN) has finally raised anchor for its KOSDAQ listing. Nuen AI, which commenced official procedures by submitting a securities registration statement to the Financial Services Commission, plans to offer a total of 2,220,000 shares to the public. The desired public offering price is 13,000 KRW to 15,000 KRW, through which it plans to raise funds ranging from 28.9 billion KRW to 33.3 billion KRW. Demand forecasting will take place from June 9th to 13th, and following subscriptions on the 19th and 20th, the company aims to enter the KOSDAQ market within this year. NH Investment & Securities will serve as the lead underwriter for the listing. Established in 2004, Nuen AI provides enterprise subscription services based on artificial intelligence technology, holding a unique position, particularly with its spoken language-specialized AI language model, 'Quetta'. It satisfies companies' AI analysis needs with various solutions, including the customized 'Quetta Enterprise', the general-purpose 'Quetta Service', and 'Quetta Data' for data refinement/processing. The company's core competitiveness lies in its high-quality analysis technology based on 'Quetta_LLMs', a foundation model architecture optimized for online big data. Furthermore, it is leading technological innovation by commercializing the latest generative AI services by industry sector with 'Quetta_TrendGPT', which incorporates Search Augmented Generation (RAG) technology. Its vast data, approximately 180 billion items (the highest level in Korea), and over 900 industry/task-specific AI analysis models demonstrate the depth and breadth of the solutions Nuen AI provides. Nuen AI's services, which support key corporate decision-making from brand analysis to sales forecasting, have proven their value across all industries by successfully completing over 500 projects, including those for Korea's top 10 conglomerates. Notably, over the past seven years, it has achieved an average annual revenue growth rate of 17.5%, with more than 90% of total revenue generated from the private sector. A long-term customer retention rate of 73% and an average contract period of 10 years clearly demonstrate its robust and stable business structure. The funds secured through this listing will be primarily invested in R&D for new product development and expansion into overseas markets. It plans to expand its portfolio by launching industry-specific SaaS services in areas such as beauty, e-commerce, and healthcare, and to actively target global companies by introducing multilingual services for analyzing K-beauty, K-food, and K-content markets. CEO Bae Sung-hwan stated his ambition: "Through advanced technology and strengthened overseas networks, we will create Nuen AI's unique innovative customer value on the global stage."