The corporate value of an autonomous driving technology company depends less on how far it has traveled and more on its ability to replicate safety with the driver absent and convert this into a paid service. Since Level 4 requires vehicles to drive without driver intervention within designated operating conditions and zones, both technological maturity and operational systems must be verified. While an A or A technical evaluation served as the initial hurdle to confirming technological capabilities, the preliminary listing review is a stage where business sustainability and revenue expansion potential are also assessed. RideFlux, which launched unmanned driving operations in Sangam, Seoul, and paid transportation services using 25-ton trucks, has now been brought before the stock exchange for review. RideFlux, a company specializing in autonomous driving AI software, submitted a preliminary application for listing on the KOSDAQ to the Korea Exchange on August 14. The joint lead managers are Korea Investment & Securities and Woori Investment & Securities, and the company aims to list in the second half of this year. RideFlux passed the A-A technology evaluation last May, receiving an A grade from both specialized evaluation agencies designated by the Korea Exchange. During the evaluation process, actual autonomous driving test drives were conducted on congested roads, including construction zones, illegally parked areas, and unsignalized intersections. RideFlux, established in 2018, has independently developed the software required for Level 4 autonomous driving, ranging from technology for recognizing the vehicle's surroundings and determining location to driving path determination, vehicle control, precision mapping, and remote operation. It is structured to apply a single core architecture called 'RideFlux Driver™' to various vehicle types, including passenger cars, buses, and heavy trucks. The cumulative investment raised is 88.2 billion won. The company is pursuing a strategy to reduce development costs and commercialization time by extending