Seccon Syndrome Pursues KOSDAQ Listing, Underwritten by Shinhan Investment Corp.

## Korea's No. 1 Self-Storage 'Darak' Accelerates Innovation with KOSDAQ Listing Second Syndrome, which operates 'Mini Changgo Darak', the unrivaled No. 1 in Korea's self-storage market, has selected Shinhan Investment Corp. as its lead underwriter and is knocking on the door of KOSDAQ listing. Through 'Darak', Second Syndrome is evolving beyond a simple storage facility into an innovative platform that enriches people's residential lives. 'Darak' is a smart urban shared storage service that utilizes idle urban spaces, allowing customers to use the space they need for the desired period on a subscription basis. With an AIoT-based automated operating system and a dedicated mobile app, it provides a comfortable storage environment and a differentiated user experience, pioneering the barren land of self-storage in Korea. Since its debut in 2016, Second Syndrome has led the market with over 180 branches nationwide, boasting an overwhelming No. 1 market share in Korea. Its core driving force for success is establishing automated space operation technology, advocating for 'Intelligent Space' beyond just simple storage. Notably, Second Syndrome is gaining attention for applying this technology to idle urban spaces, contributing to urban regeneration and the improvement of residential environments. Through collaboration with Korea Land and Housing Corporation (LH), it has converted semi-basement homes no longer inhabited by people into 'Darak' facilities, contributing to the improvement of nearby residents' living conditions and the stabilization of local communities. This achievement earned them the Minister of Land, Infrastructure and Transport Award at the 2024 'Urban Regional Innovation Awards'. Second Syndrome, which recorded sales of 15 billion won last year, a 25% increase from the previous year, is expected to achieve even higher growth this year as demand for self-storage accelerates due to demographic changes such as the increase in single-person households and aging populations, and rising income levels. The capital secured through the IPO will serve as a catalyst for service enhancement and business diversification. Furthermore, Second Syndrome is targeting the global self-storage market, estimated at approximately 92 trillion won, and is pushing for the export of its advanced operating solutions abroad. Specific discussions, including the establishment of pilot branches, are underway with companies in the UK and Japan. In addition, to realize its 'Hyperspace Life' vision, it is actively investing in Vision AI technology for the digitalization of offline objects. CEO Hong Woo-tae stated his ambition, saying, "Through the KOSDAQ listing, Second Syndrome's technology and innovation will be recognized, allowing us to advance to a larger stage and bring even more valuable changes to people's lives."