Korea Exchange Achieves 300 KOSDAQ Technology-Listed Companies

The Korea Exchange announced that, 21 years after the introduction of the system, the number of KOSDAQ-listed companies through the technology-based special listing system has surpassed 300.

Korea Exchange.

According to the Korea Exchange on September 4, the technology-based special listing system has served as a channel for innovative technology companies to enter the stock market. The eligibility has been expanded through measures such as broadening target industries, introducing single-technology evaluations, and enhancing qualitative review standards by industry sector.

One of the main achievements of the technology-based special listing system is contributing to the growth of the KOSDAQ market. The combined market capitalization of technology-based special listing companies was KRW 265.2 billion in 2005, KRW 1.3485 trillion (16.8%) in 2015, and KRW 7.8786 trillion (52.4%) in 2025, surpassing half of the total market. In particular, there has recently been increased activity in the market entry of high-quality technology companies, leading to a rise in total market capitalization, proportion of the overall market, and average market capitalization.

The cumulative public offering amount for the 300 technology-based special listing companies totals KRW 8 trillion, with bio companies raising KRW 4.5 trillion (55.5%) through KOSDAQ initial public offerings (IPOs). In addition, companies from advanced sectors such as artificial intelligence, bio, semiconductors, and defense and aerospace have increased their market entry. Since the introduction of the technology-based special listing system for foreign companies in July 2019, firms such as Macrogen, NeoImmuneTech, Theravue, and Ingenia Therapeutics have entered KOSDAQ.

Growth continued for these companies following their IPOs. The market capitalization of technology-based special listing companies, on average, increased by 147% compared to their market caps at the time of listing. Alteogen, currently the number one company on KOSDAQ by market cap, has seen its capitalization increase by more than 140 times. Companies like Nota (AI), Alteogen (bio), Park Systems (semiconductors), and Rainbow Robotics (robotics) have all demonstrated sustained growth in both market capitalization and sales performance after listing. Among the top 10 KOSDAQ companies by market capitalization, 5 are technology-based special listing firms. Similarly, among the top 10 by share price growth rate, 5 are such companies.

To date, five technology-based special listing companies have been delisted due to adverse audit opinions and similar reasons. Over the past five years, among newly listed companies, 11 have been designated as administrative issues (watchlist), and two have faced delisting events. Since July of this year, the Korea Exchange has applied grace periods for delisting only to technology-based special listing companies that comply with Value-Up disclosure, while continuing to strengthen qualitative screening and listing management efforts focusing on management transparency.

The Korea Exchange stated, “We will continue to foster advanced industries by serving as an incubator for deep tech companies and by further strengthening alignment with government policy. We will rigorously assess the value and growth potential of advanced technologies and make every effort to enhance investor protection and market credibility.”

This content was produced with the assistance of AI translation services.