"Kim Hak-sung, CEO of Spatial Information Platform Company WAVUS Co., Ltd.

Declares Future Vision 4 Years After KOSDAQ Listing in 2022

AI Transformation and Introduction of GeoAI... A 'Quantum Leap' in 2030

""Will Also Strengthen External IR Activities to Enhance Shareholder Value""

▲ CEO Kim Hak-sung said, ""Although WAVUS has been undervalued in the market so far, it seems we have been somewhat lacking in PR and IR activities,"" adding, ""While consistently focusing on technological development, we will also strengthen activities to enhance shareholder value."" (Photo = Reporter Cho Young-kwan) © Maeil Construction News

Maeil Construction News = Reporter Cho Young-kwan | ""I believe WAVUS's market value is undervalued compared to the technology we possess. I am confident that if we step forward with business expansion based on continuous technological development, we will receive a proper evaluation.""

KOSDAQ-listed WAVUS held the 'Vision Declaration 2026' on the 17th and announced its 'AX (AI Transformation)' strategy. As a spatial information platform company, the intent is to expand its platform service business based on GeoAI (Geospatial Artificial Intelligence) going forward, while also seeking business innovation. In an interview with this paper on that day, CEO Kim Hak-sung emphasized, ""We will transition from our existing public order business to a platform service business,"" and added, ""We will enhance shareholder value while providing a stable future for our executives and employees.""

WAVUS spun off from the GIS (Geographic Information System) team of Ssangyong Information & Communications Corp., a computer system integration consulting and implementation service company, in 2004, and has grown by focusing on the SI (System Integration) business utilizing GIS. Starting with the establishment of the 'Parcel-based Land Information System' in 1995 up to the 'Korea Real Estate Administration Intelligence System(KRAS)', it is considered a representative spatial information SI company in the land sector that develops and operates real estate-related systems for the state and public institutions.

The 'WAVUS AX' and 'Vision 2030+' declared by WAVUS on this day are the company's future growth strategies, serving as a declaration to transform its existing business structure and work methods. Regarding this, CEO Kim Hak-sung emphasized, ""Looking at the path WAVUS has taken so far, we mainly focused on public order projects, but going forward, we intend to change to a platform service business that includes the private market,"" adding, ""We will also transition national projects to be platform-centric.""

Previously, in December 2022, WAVUS also acquired the aerial surveying business division of Neighbor System. CEO Kim Hak-sung explained, ""We succeeded the employment of all personnel belonging to the acquired business division, and while the organization had remained in a physical combination until now, it has now become a chemical combination."" CEO Kim continued to emphasize, ""Once the investment in the aerial surveying sector, which continues until this year, is completed, we will expand the business in earnest.""

WAVUS aims to expand the proportion of new businesses by 30% by 2030, while achieving total sales of 150 billion won and an operating profit of 15 billion won. CEO Kim Hak-sung judges that to achieve this goal, 'AI Transformation (AX)' and 'GeoAI' technologies must be accompanied. CEO Kim said, ""As WAVUS has developed its own solution 'GeOnAI' applying GeoAI technology, the business model combining spatial information and AI has a very bright prospect for the future.""

WAVUS is the 'first domestic listed spatial information company' that successfully entered KOSDAQ in April 2022. However, concerns are arising that the stock price has shown a 'stagnant situation' since the listing, failing to reveal a distinct growth trend. In this situation, according to the amendment to the KOSPI and KOSDAQ market listing regulations announced by the Korea Exchange on the 17th, starting from July 1st, the market capitalization criteria for delisting will be applied at 30 billion won for KOSPI and 20 billion won for KOSDAQ. If it fails to meet the standard for 30 consecutive days, it becomes an administrative issue, and if it fails to exceed the standard for 45 consecutive days within the following 90 days, it will be delisted. This follows the delisting reform plan for the rapid and strict exit of insolvent companies announced by the government earlier in February. The 'Penny Stock' requirement is also newly established; if the state of being under 1,000 won based on the closing price continues for a certain period, it becomes a requirement for designation as an administrative issue and delisting.

Regarding this, CEO Kim Hak-sung said, ""While the current government emphasizes that market capital should be injected into productive places, it probably means there are that many marginal companies,"" adding, ""There are companies that cannot even pay the interest on their debt with their operating profit, and it seems they are trying to oust such companies from the stock market.""

CEO Kim Hak-sung then emphasized, ""WAVUS has secured liquidity and also has strong capital power."" He stressed, ""Although WAVUS's stock price is in a stagnant situation at a low level, we have no debt and are not a marginal company, so it is a structure where operating profit unconditionally leads to profit."" WAVUS's declaration of the 'Vision Declaration 2026' four years after its listing is also interpreted as an intention to be properly evaluated for its previously undervalued market value.

CEO Kim Hak-sung aims to achieve business expansion and work innovation based on the 'AI Transformation' and 'Vision 2030+' announced at the 'Vision Declaration 2026' on this day. He is also serving as the 11th Chairman of the Korea Spatial Information Industry Cooperative, focusing on the development of the spatial information industry. CEO Kim Hak-sung said, ""Although WAVUS has been undervalued in the market so far, it seems we have been somewhat lacking in PR and IR activities,"" adding, ""While consistently focusing on technological development, we will also strengthen activities to enhance shareholder value.""

/Reporter Cho Young-kwan"