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Kang Tae-won, CEO of CoAsia Nexell, "First Annual Profit Next Year, IPO Initiative in 2024"

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COASIA Nexell, which achieved quarterly profitability for the first time in the third quarter of this year, is accelerating its profitability improvement. As a continuation of the trend of profitability, it is anticipated that the fourth quarter will also maintain a positive trend, and there are prospects for achieving annual profitability conversion for the first time since its founding next year. COASIA Nexell has also set a goal to pursue an Initial Public Offering (IPO) in 2024.


Kang Tae-won, CEO of COASIA Nexell, stated in an interview with "디일렉" (D.Ilect) on the 22nd, "Currently, there are several projects in progress, and we anticipate achieving annual profitability next year. We will focus on improving profitability to proceed with the IPO in 2024."


The COASIA Group consists of several entities, including 'COASIA Elec', the representative sales agency for Samsung Electronics in the broader Asian region, 'COASIA Nexell', which specializes in semiconductor design solutions, 'COASIA Semi', 'COASIA ITSWELL', a specialized LED company, and 'COASIA Optics', which manufactures lens modules for smartphone cameras. Among these, COASIA Nexell and COASIA Semi are responsible for the semiconductor business.


COASIA serves as a key design solution partner for Samsung Electronics Foundry. The Foundry supports clients in semiconductor design and acts as a bridge to foundry companies. They also play a role in the outsourcing of packaging and testing processes.


Typically, design houses handle various stages of the process, including specification discussions, design (front-end and back-end), testing, and mass production.


In terms of the front-end process, COASIA Nexell and the back-end process, primarily COASIA Semi, handle these tasks. It is anticipated that COASIA's overall semiconductor design workforce will increase to around 400 individuals by the end of next year.


CEO Kang mentioned, "Following last year's recruitment success, COASIA secured a substantial workforce through our internal talent development program, GDEC (Global Design Education Centre), and we plan to continue focusing on talent acquisition next year."


CoAsia Nexell is also working towards securing substantial investment. Earlier this year, COASIA Nexell secured an investment of 9.5 billion KRW (approximately 8.1 million USD). For next year, they have plans to secure an investment of 20 to 30 billion KRW (approximately 17 to 25 million USD) through pre-IPO funding for workforce acquisition and research and development (R&D) initiatives.


CoAsia Nexell's main focus area is in the automotive and broader transportation sector. Visible progress has already been observed this year. In June, they signed a contract to supply Application Processors (AP) for use in the Infotainment System (IVI) to a prominent Japanese automaker. In August, they secured contracts with two major global automakers for AP supply and turnkey development projects. They are also engaged in the development of 5nm chips for Advanced Driver Assistance Systems (ADAS) in collaboration with a NASDAQ-listed company.


CEO Kang stated, "With the expansion of the electric vehicle and autonomous driving markets, there is an explosive increase in demand for vehicle-related semiconductors. Next year, we will focus on three key tasks to secure profitability and increase revenue."


The first task is to expand cooperation in the development of Application Processors (AP) for next-generation vehicles with existing clients. Over the past few years, CoAsia Nexell has built a strong industry reference base through multiple projects, and they plan to leverage this foundation to undertake larger-scale projects.


The second task involves entering the Chinese automotive market. Recently, CoAsia Nexell established a "delegation TF" (delegation task force) specifically for expanding their presence in the vehicle market. This task force aims to actively introduce CoAsia solutions to automakers and related companies through on-site visits, which is also known as "service through personal interaction." China is a primary focus for this initiative.


Expanding their business into sectors beyond transportation is also a significant task for next year. This includes actively focusing on areas with high demand for design house services, such as Artificial Intelligence (AI) semiconductors, to serve as a new growth engine.


CEO Kang remarked, "Strengthening our independent business network and discovering new clients are among the goals for next year. Despite the downturn in the semiconductor industry, as the role allocation within the industry becomes more distinct due to the transition to finer processes, design house companies are presented with new opportunities."

Reporter: Kang Seung-tae 

source : 전자부품 전문 미디어 디일렉(