![A panoramic view of the Horyong Mangyeong factory. [Horyong]](jpg/news-p.v1.20250328.274edd10926c4249bd45feaee3ec4bad_p1-2.jpg)
Horong, a specialized car company, announced on the 28th that it has applied for a preliminary listing review for listing on the KOSDAQ to the Korea Exchange. The listing organizer is Shinhan Investment & Securities Co.
Founded in 1990, Horyong is a specialized vehicle and construction machinery manufacturer that mainly produces AWP (high-end workstations), ladder cars, and cranes. It has the only technology in Korea that can produce AWP up to 90 meters.
Horyong is strengthening its product line, including electric excavators and concrete pump trucks (CPTs), to diversify its products. It is expanding its sales sources to the U.S., Europe, China, and Japan markets.
Despite the construction slump, Horong posted 188.8 billion won in sales and 9.4 billion won in operating profit in 2023. Last year, it recorded growth with 14.8 billion won in sales and 17.5 billion won in operating profit.
In addition, more than 30% of sales consist of overseas exports, including North America, Russia, and the Middle East.
Horyong aims to strengthen R&D capabilities and accelerate the development of eco-friendly and intelligent products through KOSDAQ listing.
