High Growth Tech Stocks in South Korea for October 2024

The South Korean stock market has faced a challenging period, with the KOSPI index experiencing consecutive losses and closing at 2,561.69 ahead of National Day, amid global market uncertainties and fluctuating oil prices due to Middle East tensions. In this environment, identifying high growth tech stocks involves focusing on companies that can navigate economic headwinds while maintaining innovation and competitive advantages.

Top 10 High Growth Tech Companies In South Korea

Name	Revenue Growth	Earnings Growth	Growth Rating
IMLtd	21.80%	111.43%	★★★★★★
Seojin SystemLtd	33.39%	49.13%	★★★★★★
Bioneer	23.53%	97.58%	★★★★★★
ALTEOGEN	64.22%	99.46%	★★★★★★
NEXON Games	29.64%	66.98%	★★★★★★
FLITTO	32.60%	106.82%	★★★★★★
Devsisters	29.08%	63.02%	★★★★★★
Park Systems	23.21%	34.63%	★★★★★★
AmosenseLtd	24.04%	71.97%	★★★★★★
UTI	114.97%	134.60%	★★★★★★

Click here to see the full list of 48 stocks from our KRX High Growth Tech and AI Stocks screener.

Below we spotlight a couple of our favorites from our exclusive screener.

ALTEOGEN (KOSDAQ:A196170)

Simply Wall St Growth Rating: ★★★★★★

Overview: ALTEOGEN Inc. is a biotechnology company specializing in the development of long-acting biobetters, proprietary antibody-drug conjugates, and antibody biosimilars, with a market capitalization of approximately ₩18.91 trillion.

Operations: The company generates revenue primarily from its biotechnology segment, amounting to approximately ₩90.79 million.

With a recent nod from the Ministry of Food and Drug Safety for its innovative Tergase®, Alteogen is poised to disrupt traditional markets with its Hybrozyme™ Technology, offering over 99% purity and lower immunogenicity compared to existing animal-derived alternatives. This approval could significantly broaden Tergase®'s applications beyond dermal fillers, tapping into eye surgery and orthopedics pain management. Financially, Alteogen's trajectory appears robust with an anticipated revenue surge at 64.2% annually, outpacing the broader South Korean market's growth rate of 10.5%. Despite current unprofitability and a volatile share price, these developments suggest potential for substantial market penetration and profitability in the coming years as forecasted earnings growth stands at an impressive 99.46% per year.

• Click here to discover the nuances of ALTEOGEN with our detailed analytical health report.

• Gain insights into ALTEOGEN's past trends and performance with our Past report.

ABL Bio (KOSDAQ:A298380)

Simply Wall St Growth Rating: ★★★★★☆

Overview: ABL Bio Inc. is a biotech research company specializing in the development of therapeutic drugs for immuno-oncology and neurodegenerative diseases, with a market cap of ₩1.56 trillion.

Operations: ABL Bio Inc. generates revenue primarily from its biotechnology segment, particularly focusing on startups, with reported revenues of ₩32.95 billion. The company is engaged in developing therapeutic drugs targeting immuno-oncology and neurodegenerative diseases.

ABL Bio's recent private placement, closed on July 11, 2024, marks a strategic push to fund further innovations and expand its biotech footprint. This move underscores the company's commitment to leveraging its R&D capabilities, which are significant given that R&D expenses have been notably high. With an expected annual revenue growth of 24.7%, ABL Bio is outpacing the broader South Korean market forecast of 10.5%. Additionally, earnings are projected to surge by an impressive 48.2% annually over the next few years, positioning ABL Bio for potential profitability and a stronger market presence in the biotechnology sector despite current unprofitability challenges.

• Unlock comprehensive insights into our analysis of ABL Bio stock in this health report.

• Review our historical performance report to gain insights into ABL Bio's's past performance.

Lotte Energy Materials (KOSE:A020150)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Lotte Energy Materials Corporation is engaged in the production and sale of elecfoils both domestically and internationally, with a market capitalization of ₩1.80 trillion.

Operations: The company generates revenue primarily from its Manufacturing Sector, contributing ₩768.85 billion, while the Service Sector adds ₩218.48 billion.

Lotte Energy Materials is distinguishing itself in South Korea's tech sector with a robust focus on R&D, investing 15.5% of its revenue back into research, which is substantial compared to industry norms. This commitment has fueled innovations that are pivotal for advancements in energy storage technologies—a sector experiencing rapid growth due to the global shift towards renewable energy sources. Despite facing challenges such as a competitive market landscape, Lotte's strategic emphasis on R&D could significantly enhance its market position by driving future revenue growth projected at 52.6% annually. This approach not only supports sustained technological leadership but also aligns with evolving industry demands, positioning the company well for upcoming opportunities in high-growth tech areas.

• Click here and access our complete health analysis report to understand the dynamics of Lotte Energy Materials.

• Gain insights into Lotte Energy Materials' historical performance by reviewing our past performance report.

Summing It All Up

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Want To Explore Some Alternatives?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
• Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.
• Find companies with promising cash flow potential yet trading below their fair value.

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.

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