AI marketing company Madup (co-CEOs Lee Joo-min and Lee Dong-ho) held a listing ceremony at the Korea Exchange’s Seoul headquarters on the 1st and officially entered the KOSDAQ market.

On its first day of listing, Madup’s opening price was set at KRW 22,250, 178.13% higher than the offering price of KRW 8,000. The sharp increase of the opening price above the offering price and its formation at a high level is attributed to the strong performance in the institutional investor book-building and the subsequent retail subscription.

In the institutional investor demand forecast conducted prior to listing, 2,392 institutions participated, resulting in a competition ratio of 1,396 to 1, and the final offering price was set at KRW 8,000, the top end of the desired price band. In particular, the final mandatory holding commitment rate by institutional investors reached 83.1%, securing market confidence that the volume available for trading immediately after listing would be limited. In the following public subscription for retail investors, Madup recorded a competition ratio of 3,305 to 1 and attracted approximately KRW 6.6 trillion in subscription deposits, marking the strongest performance among newly listed companies over the past four years.

Unlike typical companies listed under the technology-special listing scheme, Madup is already generating solid profits and has secured sufficient distributable earnings, which is seen as another factor enhancing its investment appeal. Madup clearly presented the direction of its shareholder-friendly policies in its securities registration statement.

Madup is an AI-based marketing solutions company that delivers differentiated, data- and automation-driven marketing performance through its AI agent “LEVER Xpert.” The company plans to focus the proceeds raised from this listing on AI infrastructure investment, recruitment of specialized personnel, and global market expansion centered on its North American subsidiary, with the aim of evolving into a leading platform in the global AI marketing market.

In addition, on 23 June, Madup was finally selected for the “2026 Unicorn Bridge” program, organized by the Ministry of SMEs and Startups and the Korea Technology Finance Corporation, thereby securing additional funding to support its leap into a global unicorn company. Through this program, Madup will receive support including up to KRW 1.6 billion in global market development funds, participation in global expansion programs, and linked guarantees (special guarantees) of up to KRW 20 billion per company.

CEO Lee Joo-min stated, “The company is grateful to investors for their belief in its growth potential. Based on the heavy responsibility that comes with being a listed company, it will pursue transparent management and focus investment on AI technology and talent to deliver meaningful results.”

Co-CEO Lee Dong-ho, who oversees global business, added, “The credibility and capital secured through the KOSDAQ listing will serve as powerful assets for Madup. Building on this foundation, the company will contribute to the global expansion of K-brands and quickly supply Madup’s AI solutions to markets worldwide.”

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