IBK Securities Bets Another ₩10B; SBI Investment, Shinhan, and Samsung Securities Join the Round
[The Bell = Reporter Kim Ye-rin]
Modular construction firm PLANM has successfully secured an additional ₩26 billion in funding, bringing its total "war chest" for this year to ₩51 billion. This comes as multiple financial investors (FIs), including IBK Securities—which joined the shareholder list earlier this year—sent "love calls" to participate in PLANM's follow-on funding.
According to investment banking (IB) industry sources on the 12th, PLANM recently completed a investment round worth ₩26 billion. It is understood that IBK Securities, DS Asset Management, SBI Investment, Shinhan Asset Management, and Samsung Securities participated in this round.
This funding follows a ₩25 billion investment secured in September from IBK Securities and United Asset Management Company (UAMCO). At that time, IBK Securities and UAMCO injected capital through a ₩200 billion joint corporate restructuring (Co-GP) blind fund established in 2021.
The fund was launched with the goal of stabilizing the finances of companies with high debt-to-equity ratios. Its core portfolio includes Litco (subway ventilation manufacturer), DR Mobility (EV motor housing and motorboat engine parts), Syscon (automated transport machinery), East Security (security software), Luxco (marine and land switchboard manufacturer), and Manyo Factory (cosmetics wholesaler).
IBK Securities also participated in PLANM's additional funding, injecting ₩10 billion recently. ₩8 billion of this was secured by forming a project fund, while the remaining ₩2 billion was sourced from the "IBK Financial Group-DS Green Finance Blind Fund" (hereafter Green Finance Fund), which is co-managed with DS Asset Management.
The Green Finance Fund, a ₩100 billion vehicle established by both firms last December, primarily targets eco-friendly materials, components, and equipment companies in sectors such as secondary batteries and semiconductors. This year alone, it has added companies like Inox Eco-M (formerly TRS, a battery raw material manufacturer), RFPT (semiconductor equipment), and Graphene Square (advanced new materials) to its portfolio.
Founded in 2020, PLANM is a company that supplies eco-friendly modular systems across various sectors, including residential, medical, and leisure. It provides comprehensive solutions encompassing modular design, development, production, delivery, and maintenance. After completing Korea's first modular school project, it currently holds the top market share in the school modular market. Last year's revenue and operating profit were ₩19.9 billion and ₩2.5 billion, respectively—a significant increase compared to 2021's revenue (₩14.1 billion) and operating profit (₩1.2 billion).
Modular construction refers to a method where most materials and components—such as electrical wiring, plumbing, bathrooms, exterior walls, and windows—are pre-fabricated in a factory, transported to the site, and then assembled and finished. It is drawing attention as a next-generation construction technique due to its superior efficiency, shorter construction periods, and consistent quality compared to traditional methods.
The investment in PLANM is also evaluated as aligning with ESG (Environmental, Social, and Governance) trends, given its contribution to reducing carbon emissions during the construction process. The ability to precisely forecast necessary materials leads to less waste, higher reuse and recycling rates, and minimal noise and dust pollution for the surrounding area. This environmental benefit served as the rationale for utilizing the Green Finance Fund managed alongside DS Asset Management.
