South Korea's Elice Group Plans IPO This Year to Fund AI Data Center Construction

Gate News message, April 15 — Elice Group, a South Korean AI infrastructure company, announced plans to pursue an initial public offering (IPO) this year to raise capital for building next-generation AI portable modular data centers (PMDC). CEO Kim Jae-won stated at a press conference today that the company needs to secure funding within the year to complete PMDC construction, adding that they are preparing to raise funds through public listing.

Elice Group's revenue last year reached approximately 40 billion KRW (around $30 million USD), with education services accounting for 30-40% of total sales. The company recently entered a bid for the government's 2 trillion KRW ($1.5 billion USD) GPU procurement project. This year, cloud revenue is expected to surpass education revenue as the company expands from its AI-based education platform into cloud infrastructure.

The company completed development of a PMDC supporting next-generation Vera Rubin NVL72 GPUs, which require 230kW per rack. Elice also introduced GPU Spot pricing, the first among domestic cloud service providers, offering up to 50% cost savings compared to on-demand rates across B200, H100, and A100 GPU lineups. The company plans to enhance its AI education solutions with integrated vision capabilities and enterprise-focused AI transformation training.