KTE Wins KOSDAQ Preliminary Approval, Eyes 2026 Listing

KTE has received preliminary review approval from the Korea Exchange for a KOSDAQ listing, clearing a key step toward its initial public offering, according to bloter.net. The approval came about two months after the company submitted its preliminary review application on July 31.

The company said it plans to begin full IPO procedures following the approval and aims to list on KOSDAQ within 2026. NH Investment & Securities is serving as the listing underwriter.

KTE is expanding its power and control capabilities into onshore and data center power infrastructure.

Background

Founded in 1979, KTE operates power & control, propulsion, defense and MRO solutions. It localized key equipment for Jang Bogo-III submarines, including main switchboards, power converters and an integrated platform management system, and supplies main switchboards for naval ship projects in the UK, Norway and Thailand. Its key customers include Hanwha Ocean, HD Hyundai Heavy Industries, Samsung Heavy Industries and the Republic of Korea Navy. In 2025, KTE posted consolidated revenue of about 173.9 billion won and operating profit of about 17.9 billion won, up 5.9% and 1.9% year-on-year respectively, with a 10.3% operating margin. KTE also formed a joint venture with Schneider Electric called Schneider KTE and secured domestic data center switchboard supply records, and is developing switchboards for the UK and European data center market with its UK subsidiary Elecsis and LS Electric.