AGOS Launches Integrated Company, Appoints Defense Expert Jeong Cheol-gon as New CEO

[Financial News] KOSDAQ-listed AGOS has completed its merger with Human AGOS and shifted to a new management structure under CEO Jeong Cheol-gon. The company plans to fully expand its anti-drone and defense businesses based on the integrated entity.
AGOS said on the 1st that it completed the merger process with Human AGOS, with September 1 set as the effective date of the merger. Before that, the company appointed Jeong as the new CEO at a shareholders' meeting held on August 31 to reorganize its management structure.
An AGOS official said, "Through this merger and the appointment of the new CEO, the company will combine the technologies and business know-how of both firms to strengthen its defense business competitiveness, centered on anti-drone solutions."
Jeong, formerly of Hyundai WIA, is a defense industry expert with about 20 years of business experience in the sector. In particular, he proposed the idea for 'DroneHunter F700,' which covers the entire process from detecting and tracking illegal drones to neutralizing them, and led its product development and commercialization.
As drones are increasingly being used as key assets on actual battlefields, the importance of anti-drone technology for detection, identification, and response is also growing. Based on its accumulated anti-drone technology and business references, AGOS plans to expand cooperation with major domestic defense companies.
With strengthened research and development (R&D) and business execution capabilities through the integrated company, AGOS will also accelerate its push into overseas markets. Its goal is to broaden its revenue base and improve profitability through cooperation with domestic defense firms and expanded exports.
Jeong said, "This merger is a turning point for AGOS to combine its technologies and business capabilities and leap forward as a specialized anti-drone and defense company," adding, "Based on the experience and expertise I have built over the past 20 years in the defense field, I will secure differentiated technological competitiveness."
"We will also work to deliver real revenue growth and profit generation through close cooperation with major domestic defense companies and expanded overseas exports," he said. "On that basis, we will enhance corporate and shareholder value and grow into a global defense company."
[email protected] Choi Du-seon Reporter