High Growth Tech Stocks to Watch in South Korea September 2024
The South Korean market has remained flat over the past 12 months, with the Healthcare sector gaining 5.6% in the last week and earnings forecasted to grow by 29% annually. In this context, identifying high-growth tech stocks that can outperform becomes crucial for investors seeking opportunities in a steady market environment.
Top 10 High Growth Tech Companies In South Korea
Name |
Revenue Growth |
Earnings Growth |
Growth Rating |
---|---|---|---|
Seojin SystemLtd |
33.61% |
52.05% |
★★★★★★ |
IMLtd |
21.80% |
111.43% |
★★★★★★ |
Bioneer |
23.53% |
97.58% |
★★★★★★ |
FLITTO |
32.60% |
106.82% |
★★★★★★ |
NEXON Games |
29.64% |
66.98% |
★★★★★★ |
ALTEOGEN |
64.22% |
99.46% |
★★★★★★ |
Devsisters |
29.08% |
63.02% |
★★★★★★ |
Park Systems |
23.74% |
35.66% |
★★★★★★ |
AmosenseLtd |
24.04% |
71.97% |
★★★★★★ |
UTI |
114.97% |
134.59% |
★★★★★★ |
Click here to see the full list of 49 stocks from our KRX High Growth Tech and AI Stocks screener.
We’ll examine a selection from our screener results.
Simply Wall St Growth Rating: ★★★★★★
Overview: ALTEOGEN Inc., a biotechnology company, specializes in developing long-acting biobetters, proprietary antibody-drug conjugates, and antibody biosimilars with a market cap of ₩18.59 billion.
Operations: The company derives its revenue primarily from its biotechnology segment, generating ₩90.79 million. It focuses on developing long-acting biobetters, proprietary antibody-drug conjugates, and antibody biosimilars.
With a recent nod from the Ministry of Food and Drug Safety for its innovative Tergase®, ALTEOGEN is poised to disrupt markets traditionally dominated by animal-derived products, showcasing over 99% purity and reduced immunogenicity. This approval could significantly broaden its application spectrum, enhancing ALTEOGEN’s market presence. Financially, the company’s revenue growth is projected at an impressive 64.2% annually, outpacing the South Korean market’s average. Moreover, earnings are expected to surge by approximately 99.5% per year, positioning ALTEOGEN for potential profitability within three years amidst challenging industry dynamics where many peers remain unprofitable.
Simply Wall St Growth Rating: ★★★★★☆
Overview: ABL Bio Inc., a biotech research company, focuses on the development of therapeutic drugs for immuno-oncology and neurodegenerative diseases, with a market cap of ₩1.58 trillion.
Operations: ABL Bio Inc. generates revenue primarily from its biotechnology segment, which contributed ₩32.95 billion. The company focuses on developing therapeutic drugs for immuno-oncology and neurodegenerative diseases.
ABL Bio’s recent strategic moves, including a significant private placement, underscore its aggressive pursuit of growth in biotechnology. The company raised approximately KRW 140 billion by issuing convertible preferred stock, attracting heavyweight investors like Korea Development Bank and Atinum Investment. This influx of capital is pivotal as ABL Bio aims to bolster its R&D capabilities and expand its product pipeline. Financially, the company’s revenue is forecasted to grow at 24.7% annually, outstripping the South Korean market average of 10.4%. Moreover, with earnings expected to climb by 48.2% per year, ABL Bio is on a clear trajectory towards profitability within three years—a notable feat in an industry where many are struggling to break even.
Simply Wall St Growth Rating: ★★★★★☆
Overview: Celltrion, Inc., along with its subsidiaries, develops and produces protein-based drugs for oncology treatment in South Korea and has a market cap of ₩42.30 trillion.
Operations: Celltrion, Inc. generates revenue primarily from bio-medical supplies (₩3.54 trillion) and chemical drugs (₩507 billion). The company’s focus on protein-based oncology treatments positions it as a key player in the pharmaceutical sector in South Korea.
Celltrion’s recent strategic maneuvers, including a significant agreement with Cigna Healthcare for ZYMFENTRA and the EC’s approval of SteQeyma, underscore its robust positioning in the biopharmaceutical sector. With a 25.5% annual revenue growth forecast, Celltrion outpaces the South Korean market average significantly. The company’s commitment to innovation is evident in its R&D spending, which has surged by 59.6%, reflecting its focus on developing competitive biosimilars and novel therapies. This investment strategy not only enhances its product pipeline but also solidifies its market standing amidst fierce global competition.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include KOSDAQ:A196170 KOSDAQ:A298380 and KOSE:A068270.
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