SEC Prepares for KOSDAQ IPO, Strengthening Global Reach in Inspection Equipment


South Korea’s electron beam-based inspection equipment specialist, SEC, announced on the 4th that it has passed the preliminary review for its KOSDAQ listing by the Korea Exchange. With this approval, the company plans to finalize preparations for submitting its securities registration statement and officially kick off its initial public offering (IPO) process. The listing is being led by Shinyoung Securities.

Founded in 2000, SEC specializes in developing inspection and analysis equipment based on its proprietary electron beam technology. Its core business areas include ▲X-ray inspection equipment for the semiconductor and battery industries ▲Non-destructive inspection equipment using linear accelerators (LINAC) for defense missiles, aviation, and shipbuilding ▲Tabletop scanning electron microscopes (Tabletop SEM) for research and quality control in the chemical, new materials, energy, and bio industries.  

SEC provides semiconductor X-ray inspection equipment capable of detecting defects in various industries, including electronic components, semiconductors, automotive electronics for autonomous vehicles, and mobile devices. From 2019 to 2023, the company generated cumulative revenue of approximately $69 million (KRW 92.3 billion), strengthening its position in the market. Additionally, with the development of Through-Silicon Via (TSV) technology for High Bandwidth Memory (HBM) semiconductors, demand for ultra-precise X-ray inspection equipment equipped with Nano Focus X-ray tubes is rapidly increasing, driving steady revenue growth.  

SEC is also meeting the rising demand for battery inspections in electric vehicles (EVs) and energy storage systems (ESS). The company supplies 2D and 3D-CT X-ray inspection equipment for pouch-type, prismatic, and cylindrical batteries, generating approximately $19.5 million (KRW 26 billion) in cumulative revenue as of the end of 2023.  

SEC independently manufactures X-ray tubes and LINACs, leveraging its core electron beam technology, which includes expertise in high-voltage and control circuits, electron gun control, electron beam focusing, and vacuum formation. In addition, the company has built a strong competitive edge by integrating mechatronics technology for automated equipment design and manufacturing, as well as deep learning-based automated defect detection software.  

To expand its global reach, SEC has been actively strengthening its international network, with exports accounting for approximately 50% of its annual revenue over the past three years. The company currently operates 40 overseas sales agencies, including a subsidiary in Shanghai, China, to drive local business expansion in key markets.  

Jong-Hyun Kim, CEO of SEC, stated, “The funds raised through this KOSDAQ listing will be strategically invested in research and development (R&D), facility expansion, and business growth, maximizing both technological competitiveness and corporate value. Leveraging our proprietary electron beam technology, we will continue expanding our core business and establishing SEC as a leader in the inspection equipment industry.”

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