Son Byung-doo, chairman of the Korea Exchange, said on the 20th, “We will support venture companies that go public (IPO) so that innovative technologies can receive fair evaluation in the market.”
Chairman Sohn attended the ‘IPO Expo 2022’ held at the Korea Exchange Promotion Center in Yeouido, Seoul hosted by the Korea Economic Daily on the same day and said, “When reviewing technology special listings, we will reflect the characteristics of each industry and industry and standardize the evaluation criteria as early as this year to increase objectivity.” said this.
The Financial Services Commission also announced that it would push for extensive regulatory reform in the capital market in consideration of rapidly changing technologies. Vice Chairman Kim So-young of the Financial Services Commission said, “We will actively solve the ‘Korea discount’ factor so that innovative ideas and technologies can receive reasonable evaluation from investors.”
The IPO market, which enjoyed the biggest boom in history last year, has been slowing down this year due to the economic downturn. The number of unlisted companies that have signed contracts for leading IPOs with securities companies is counted as 401 this year. It decreased by 20.9% from the same period last year (507 places).
Experts pointed out that in order to stimulate IPOs, it is necessary to widen the special listing channel for innovative companies equipped with future technologies. Hwang Man-soon, CEO of Korea Investment Partners, said, “The Korean bio industry was able to develop significantly thanks to the introduction of the special technology listing system in 2005. We need to introduce a special listing system,” he said.
At the event, representatives of Fado, Milli’s Library, Galaxy Corporation, AutoCrypt, Hisense Bio, Sears Technology, and A-Lux, which are innovative companies pioneering future industries such as semiconductor artificial intelligence (AI) metaverse autonomous driving healthcare, etc. He attended and explained the company’s vision to investors.
Reporter Jinhyeong Cho [email protected]