Seoul Exchange Unlisted Plans to Establish 'Alternative Exchange' in Busan

[Asia Economy Reporter Lee Jung-yoon] PSX, which operates Seoul Exchange Unlisted, a platform for trading unlisted stocks, announced on the 21st that it will establish a preparatory corporation to create an alternative exchange in Busan.

Since the first half of 2021, PSX has decided and pursued plans to enter the alternative exchange business. With the recent confirmation of key participants, it will establish the "Busan Alternative Trading System and Fintech Accelerating Center Preparatory Corporation (tentative name)" to formulate a full-fledged business plan and accelerate progress. The expected capital scale is 55 billion KRW. An alternative exchange refers to a securities trading system that provides stock trading execution functions using trading technology without listing functions.

This consortium includes participants from various fields such as IT companies, differentiating the shareholder composition. While PSX coordinates the overall alternative exchange business, financial companies, telecommunications companies, and venture capital firms participate. Telecommunications companies are responsible for network construction and cloud operations, and venture capital firms handle startup support and cross-border connections. Additional participants will be recruited for the remaining shares.

PSX plans to build the IT system of the alternative exchange independently. In the future, the alternative exchange headquarters will be located in Munhyeon-dong, Nam-gu, Busan, and projects to revitalize the fintech industry in the Busan area will also be carried out.

Kim Se-young, CEO of PSX, said, "The establishment of the alternative exchange will support new growth engine businesses and back the changing industrial structure," adding, "The preparatory corporation will also be promoted in a way that combines the alternative exchange and fintech accelerator."

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