On September 23, Wrtn Technologies, a burgeoning artificial intelligence startup hailing from South Korea, appointed Mirae Asset Securities as its lead underwriter in anticipation of an Initial Public Offering (IPO). On Wednesday, Wrtn made public that NH Investment & Securities would act as the co-underwriter. The company is also laying the groundwork to apply for a preliminary listing review in the upcoming year. Wrtn's application empowers users to seamlessly interact with a variety of artificial intelligence models. This August, the company successfully concluded a Series C funding round, amassing approximately KRW 100 billion (equivalent to about USD 88.5 million), thereby elevating its valuation to roughly KRW 1.2 trillion (around USD 885 million) and bringing its cumulative funding to a total of approximately KRW 230 billion.

The anticipated listing is poised to breathe new life into the languishing South Korean IPO market, which has remained unresponsive to the uptick in the Korea Composite Stock Price Index (KOSPI). Looking ahead to 2026, the IPO fundraising volume in the Seoul market is projected to reach approximately USD 1.1 billion, a stark contrast to the annual figures exceeding USD 3 billion witnessed over the preceding three years.