Kim Se-yeop, CEO of SelectStar, is responding to questions in a recent interview with the Electronic Times. (Provided by SelectStar)
SelectStar is set to become the first company in the domestic AI reliability sector to pursue an initial public offering (IPO) this year. The aim is to expand the AI reliability assessment field while also making a concerted effort to enter the global market.
In a recent interview with the Electronic Times, Kim Se-yeop, CEO of SelectStar, stated, “We plan to file for a preliminary review for a technology-based special listing on the KOSDAQ this year,” adding, “We are targeting a listing as early as this year or early next year.”
Founded in 2018, SelectStar is built on two main pillars: constructing AI training data and verifying the reliability of AI models and services to ensure performance and safety. While there are domestically listed companies engaged in the AI data business, there are none yet in the AI reliability evaluation sector.
Having raised a cumulative investment of 43.4 billion won by last year, SelectStar has shifted its strategic direction towards expanding R&D investments for the future, even if this delays reaching the break-even point. The rapid evolution of AI technology necessitates aggressive investment to advance its technology.
The core new business is the AI reliability assessment platform launched last year, “Datumo Eval.” It is a solution that helps identify and address potential errors and risks that may occur during AI service operations. By applying it to Q&A services for large banks and AI underwriting consultant services, they have secured references in the financial sector.
CEO Kim stated, “We provide essential safety measures required when AI is applied, such as accuracy of responses, prevention of hallucinations, and verification of inappropriate statements, and this year, we plan to expand into areas where AI is actively adopted, like entertainment and among the top 10 conglomerates.”
In the existing core AI data construction business segment, SelectStar focuses on building specialized multilingual data. Its core competitiveness lies in automated technology that reduces performance gaps between languages and overcomes cultural biases. Last year, SelectStar was selected as a data supplier for a global big tech company, laying the groundwork for global expansion, and is currently building an overseas network centered on its U.S. branch.
Globally, efforts are underway to establish AI reliability and safety standards, such as the government’s recent initiative to formulate a master plan for creating a safe AI ecosystem. SelectStar, as a leading domestic AI reliability verification company, is actively voicing its opinion in this regard.
CEO Kim mentioned, “Given the rapid changes in AI technology, except for certain areas related to national security and energy that concern the right to life of citizens, I believe that a private autonomous certification system is more desirable than state-led regulation,” and he added, “Our company will provide technical evidence to establish a system where private companies authorized by the government can verify reliability.”
Reporter: Jeong Hyun-jeong iam@etnews.com