Wrtn Begins Selecting IPO Lead Manager...“Listing Next Year or Later”

[Financial News] Wrtn Technologies has begun preparations for a listing. Its target listing date is next year or later.
According to industry sources on the 2nd, Wrtn recently sent requests for proposals (RFPs) to major domestic securities firms to select a lead manager for its initial public offering (IPO). Wrtn plans to select the lead manager and finalize the details this month.
Fueled by rapidly growing sales in overseas markets, including North America, Wrtn recently attracted a Series C investment of KRW 100 billion after becoming the first startup in Korea’s AI services sector to receive a valuation of at least KRW 1 trillion. Its cumulative funding has reached approximately KRW 230 billion.
Wrtn’s North American artificial intelligence (AI) entertainment content platform, “OOC,” has surpassed KRW 10 billion in monthly revenue.
Wrtn has decided to introduce strengthened youth-protection policies to fulfill its social responsibilities accompanying its business growth and enhance the safety of AI use. It plans to announce the details this month.
Lee Se-young, CEO of Wrtn, said, “Over the five years since its founding, we have established ourselves as a leading AI services company in Korea. By receiving a valuation of at least KRW 1 trillion and achieving rapid growth in overseas sales, we have demonstrated the global competitiveness of Korean AI services. Now, based on the trust of the capital markets, we will pursue greater growth on a broader global stage. Throughout that process, we will also make every effort to create AI services that users can access safely and trust.”
[email protected] Jang Min-kwon Reporter