South Korea’s financial regulator said Thursday that a new stock market dedicated to small and medium-sized enterprises would open by the end of this year, offering greater direct financing opportunities to promising startups.
The Financial Services Commission said it will accelerate steps to launch the new market, temporarily named “Korea New Exchange,” by working out listing conditions and public disclosure rules.
The domestic stock market is made up of the main bourse, KOSPI, for blue-chip shares and the junior KOSDAQ with its focus placed on tech-oriented companies.
The envisioned new market will help startups to tap into fresh funding sources, mainly institutional investors keen to discover companies with unique market positions and technologies.
For full article, see Korea Herald.