Wrtn Technologies begins selecting IPO underwriter

Wrtn Technologies, a Korean artificial intelligence (AI) service platform operator, said Tuesday it has begun preparing for an initial public offering (IPO), sending requests for proposals to major domestic securities firms to select an IPO underwriter. The company, known in Korea as Wrtn and led by CEO Lee Se-young, said it aims to select an underwriter and finalize listing details this month, with an IPO targeted for some time after next year. Wrtn recently raised 100 billion won ($72.8 million) in a Series C funding round, bringing its total funding to roughly 230 billion won, and said it has been valued at more than 1 trillion won — a threshold commonly used to designate a startup as a "unicorn" — becoming the first Korean AI service startup to reach that valuation. The company credited rapid overseas revenue growth, particularly in North America, where OOC, its AI entertainment content platform, has surpassed 10 billion won in monthly revenue. Wrtn also said it is preparing a strengthened set of youth-protection policies, to be detailed later this month, as part of what it desc