What Firstec does

Firstec (퍼스텍), founded in 1975 and headquartered in Changwon, South Korea, is a precision defense components supplier and a subsidiary of the diversified Foosung Group. The company develops and manufactures ultra-precision control components and subsystems across five core defense business areas: guided weapons, ground mobility vehicles and artillery, aerospace, naval and underwater systems, and unmanned systems. Its underlying capability is ultra-precision control technology, with production spanning development, manufacturing, and test and evaluation. Notable outputs include wireharness assemblies supplied to Boeing's Osprey tiltrotor aircraft, for which Firstec has earned Boeing's top-tier Gold quality rating in two consecutive years, and key subsystems (drive devices, electronic components) delivered to Korean defense system integrators for unmanned aircraft export projects.

The company operates a B2B hardware sales model, selling custom-engineered defense components directly to system integrators and aerospace primes rather than through distribution. Go-to-market is enterprise field sales, with established relationships into Boeing (Tier 1 aerospace) and Korean defense primes that supply export programs to the UAE, Saudi Arabia, Poland, Norway, and Iraq. Operations are distributed across three Korean sites: the Changwon headquarters and main production base, a Bundang/Seongnam sales office, and a Daejeon R&D center located within Korea's defense research cluster.

Financial scale has expanded sharply: revenue grew from 173,103M KRW in 2023 to 207,273M KRW in 2024 and 294,842M KRW in 2025, with net profit rising from 4,620M KRW to 14,727M KRW over the same period. The company is privately held within Foosung Group and does not appear on a public exchange; governance has been formalized with an external auditor appointment for 2023-2025 and an ethical management declaration signed by CEO Son Gyeong-seok in 2021.

Name

Firstec

Legal name

퍼스텍(주) (FIRSTEC CO.,LTD.)

Website

https://firsteccom.co.kr

Company type

Private

Founded year

1975

Operating status

Operating

Headcount range

251–500 employees

Short description

Firstec is a South Korean defense components manufacturer supplying ultra-precision subsystems (wireharness, drive devices, electronic components) across guided weapons, ground mobility, aerospace, naval, and unmanned systems to Korean defense integrators and Boeing.

Ownership category

akta.pro rank

Product category

Defense Components Manufacturing

NAICS

Other Guided Missile and Space Vehicle Parts and Auxiliary Equipment Manufacturing (336419), Guided Missile and Space Vehicle Manufacturing (336414), Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing (334511), Military Armored Vehicle, Tank, and Tank Component Manufacturing (336992)

SIC

Guided Missiles & Space Vehicles & Parts (3760), Search, Detection, Navagation, Guidance, Aeronautical Sys (3812), Ordnance & Accessories, (No Vehicles/Guided Missiles) (3480), Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro primary industry

Ordnance Components & Subassemblies (Casings, Liners, Guidance Sections) (IMABAHAL)

akta.pro secondary industries

Guidance, Navigation & Control (GNC) Electronics for Weapons (IMABAGAH), Fire Control Systems & Weapon Control Electronics (IMABAGAI), Turrets, Remote Weapon Stations (RWS) & Armament Integration (IMABAJAI)

Keywords

• Guided weapons
• Defense manufacturing
• Wire harness assembly
• Unmanned ground systems
• Aerospace components

Headquarters

HQ city

Changwon

HQ country

South Korea

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Technology or R&D, Operations, Infrastructure

Revenue model

1. Defense Components Manufacturing: Firstec generates revenue through manufacturing and supplying ultra-precision control components and subsystems for defense applications including guided weapons, ground vehicles, aerospace, and naval systems. Revenue has grown from 173,103M KRW in 2023 to 294,842M KRW in 2025.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Firstec designs, develops, and manufactures defense systems and components based on ultra-precision control technology, including guided weapons, ground mobility vehicles and artillery, aerospace components, naval/underwater systems, unmanned systems, and wire harness assemblies. The company supplies Korean military forces and global defense customers, with a notable position as a supplier of wire harnesses for Boeing's V-22 Osprey aircraft.

Product overview

FIRSTEC is a South Korean defense industry company specializing in five core business areas: Guided Weapons, Ground Mobility Vehicles & Artillery Pieces, Aerospace, Naval & Underwater Systems, and Unmanned Systems. The company functions as an ultra-precision key components provider to the global defense industry, supplying critical subsystems and components to domestic and international defense contractors. Notable products include wireharnesses supplied to Boeing for the Osprey aircraft, and the company operates R&D, production, and test & evaluation capabilities for defense applications.

Differentiator

Problem solved

Functional benefit

Products and services

• Guided Weapons

Quantifiable outcome

• 2 consecutive years of Boeing Quality GOLD rating (top tier certification)

Named customers2 records

Segments2 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered core.

• BoeingcoreTechnology or IntegrationFirstec supplies wireharness components for Boeing's Osprey tiltrotor aircraft. The company has achieved Boeing's top quality GOLD rating certification for 2 consecutive years, demonstrating world-class quality standards. Osprey is developed by Boeing and Bell and is currently operated by the US Air Force.
• Korean Defense System IntegratorscoreStrategic or Co-development PartnerFirstec supplies key components including drive devices and electronic systems to Korean defense system integrators for major export projects. The company participates in export deals to UAE, Saudi Arabia, Poland, and Norway, providing critical subsystems for unmanned aircraft and other defense platforms.
• Foosung Group (후성그룹)coreStrategic or Co-development PartnerFirstec is a subsidiary of Foosung Group, a South Korean conglomerate. The group includes companies in chemicals, refractories, precision manufacturing, and other sectors. Firstec represents the group's entry into the defense industry.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Hyundai Rotem: Korean manufacturer of armored vehicles (K2 tank, K808) and defense land systems. Directly comparable to Firstec's ground mobility and artillery business and similarly benefits from Korean defense export momentum in Europe and MENA.
• Hanwha Defense: Hanwha group's defense land systems arm producing K9 self-propelled artillery, Redback IFV, and export-oriented armored vehicles. Comparable to Firstec's ground mobility and artillery components business and shares exposure to K9/K10 export deals.
• Mercury Systems: US-listed defense electronics supplier providing mission-critical subsystems to primes. Comparable as a Tier 2 defense component specialist with similar positioning as a trusted supplier to larger platform OEMs.
• Korea Aerospace Industries (KAI): Korean aerospace prime producing trainer aircraft, KF-21 fighter, and unmanned aerial systems. Comparable to Firstec's aerospace and unmanned systems business, but as a Tier 1 platform integrator rather than a component supplier.
• Hanwha Aerospace: Larger Korean defense conglomerate producing aerospace engines, precision-guided munitions, and ground systems. Overlaps directly with Firstec's guided weapons and ground mobility/artillery business, but operates at much greater scale and as a prime contractor.
• Curtiss-Wright: US defense supplier providing highly engineered components, electronics, and specialty products to defense and aerospace primes. Comparable to Firstec as a precision component supplier across multiple defense domains including aerospace, naval, and ground.

Emerging players

• Ducommun: US supplier of engineered products and electronic systems for aerospace and defense, including wireharness and interconnect assemblies. Closely comparable to Firstec's wireharness and aerospace electronics capabilities and Boeing supplier profile.

Direct peers

• LIG Nex1: South Korean defense company specializing in precision-guided weapons, electronic warfare, and naval/underwater systems. Closely comparable to Firstec's product mix across guided weapons, aerospace, and naval/underwater domains, and similarly Go-to-Market via Korean defense primes.
• Poongsan Holdings: Korean defense manufacturer producing artillery ammunition, precision-guided munitions components, and metallic materials. Direct overlap with Firstec's guided weapons and munitions components portfolio, both selling into Korean and export defense markets.
• SNT Motiv: Korean defense company producing precision-guided weapons, naval systems, and electronic components. Closely comparable to Firstec in product scope (guided weapons, naval) and in acting as a key component supplier to Korean primes.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Firstec