C&M advances Kosdaq listing bid, eyes AI, robotics and defense markets

C&M, an electric drive solutions company, has filed for a preliminary review of its Kosdaq listing, formally kicking off the initial public offering process.

The company built its core motor technology over more than 45 years, since its start as LG Electronics' motor division, and gained stable earnings from its automotive electrification business. Building on this foundation, C&M plans to expand into high-value-added advanced sectors such as AI data centers, robotics, and defense and unmanned systems after listing.

C&M submitted a preliminary review request for a Kosdaq listing to the Korea Exchange, formally starting the listing process, the company said Thursday. Korea Investment & Securities is serving as the lead underwriter, and C&M aims to complete the listing within this year.

C&M traces its roots to LG Electronics' motor division, established in 1980, and holds proprietary core motor technology and know-how built up over more than 45 years. Since being spun off as an independent company in 2006, it has completed a fully integrated electric drive technology structure. The company develops and mass-produces everything in-house, from precision cores and wound stators — key motor components — to finished motors and integrated electric drive modules.

Building on this technological pedigree and proven mass-production quality, the company has fully transformed its business structure, shifting from a home appliance-centered operation to one focused on automotive electrification components. This shift has secured a strong cash cow for the company.

In practice, C&M posted consolidated sales of 238.5 billion won ($178 million), operating profit of 21.3 billion won and net profit for the period of 19.8 billion won in 2025. The results demonstrate both growth and profitability. The automotive electrification business accounted for 64.1 percent of sales, driving the company's earnings.

C&M operates a total of five global production facilities, including three domestic factories in Gimhae, where it is headquartered, as well as in Asan and Busan. It also runs two overseas subsidiaries in Nanjing and Yantai, China. Based on this infrastructure, the company supplies key components to major multinational automakers and home appliance makers as well as Tier 1 customers.

With the Kosdaq listing, C&M plans to take a "big step" into future advanced industries, building on its solid cash cow business. The company's long-honed motor technology and integrated mass-production system are highly compatible with new business areas. This strength, it says, will let it capture high-value-added future markets with minimal trial and error.

"We are an electric drive solutions company that has proven excellent mass-production performance in the home appliance and automotive electrification markets, building on the technological legacy and know-how of LG Electronics' motor division that has continued since 1980," said C&M CEO Kim Hyung-ga. "Through this Kosdaq listing, we will expand our proven core motor technology into advanced industries such as AI data centers, robotics and defense unmanned systems, and take a major leap forward to become a world-class electric drive solutions company."

Also preparing for a Kosdaq listing is voice AI company Neosapience. Neosapience said Monday that it is "evolving beyond voice generation into a conversational AI business that listens and communicates through voice." Founded in 2017, Neosapience operates Typecast, a generative AI platform that converts text into voice imbued with human emotion and intonation. Through this IPO, Neosapience plans to offer 2 million shares. The desired offering price range is 13,800 to 15,800 won, with total expected proceeds of 27.6 billion to 31.6 billion won. Based on the upper end of the price range, the company's expected market capitalization is about 192.7 billion won. Subscriptions for general investors will run from Thursday through Friday.