Exchange to Implement Improved 'KOSDAQ Technology Special Listing System' from Next Year... Evaluation Criteria Revised

[Asia Economy Reporter Oh Ju-yeon] The Korea Exchange announced on the 29th that it will improve the technology evaluation system for special listing on KOSDAQ and implement it from January 1 next year.

The KOSDAQ special technology listing system allows companies with excellent technology and business potential to be listed through evaluations by technology evaluation agencies. If the technology evaluation results from two professional evaluation agencies are rated A&BBB or higher, a preliminary listing review request can be made. Subsequently, the company is finally listed on the KOSDAQ market through a listing examination and listing committee.

As of December this year, a total of 112 technology companies have been listed through the current technology evaluation system. The Exchange explained that it plans to enhance the reliability of technology evaluations by reorganizing the evaluation items and specifying the evaluation contents for each item.

First, after collecting opinions from evaluation agencies and securities firms (IB), the technology and marketability evaluation items will be expanded and reorganized during the technology evaluation, and key contents and precautions for each evaluation item will be prepared. The current evaluation items, classified into 4 technology and 2 business categories, will be adjusted to 3 each, and the total number of evaluation items will be expanded from the existing 26 to 35. In addition, by specifically explaining the key contents for each major evaluation item, the quality of evaluations will be improved.

Along with this, to enable evaluation agencies to conduct evaluations suitable from an IPO perspective, frequently occurring issues during evaluations will be organized and guided to enhance evaluation reliability.

The Exchange stated, "We will reduce discrepancies between institutions during technology evaluations to maintain a certain level of evaluation quality and increase reliability. At the same time, we will protect investors by thoroughly reviewing technology and marketability based on objective evidence to prevent unverified companies from recklessly pursuing special technology listings."

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