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Stage Five says 2025 sales 111.2 billion won; seeks IPO as full MVNO

Stage Five is pushing for an initial public offering by shifting to an AI-based telecommunications platform and converting into a full MVNO, it said. Its digital MVNO service Findairect is sustaining net subscriber growth in the mobile number portability market, and the company said applying AI agents cut customer acquisition and service costs by 10 percent. Stage Five posted 2025 sales of 111.2 billion won, up 282 percent, while operating loss narrowed to about 500 million won.