Exchange to Hold KONEX 10th Anniversary Ceremony on July 3

KONEX Listed Companies Increase from 21 to 127... 5 Times Growth
Market Capitalization Rises from 400 Billion to 4.2 Trillion Won... 10 Times Up

[Image source=Yonhap News]

The Korea Exchange (KRX) will hold a commemorative ceremony on July 3rd to mark the 10th anniversary of the KONEX launch. KONEX is a market dedicated to early-stage and small-to-medium venture companies.

On the 19th, the Korea Exchange announced that it will host the 10th anniversary ceremony of KONEX under the theme "The Future of Startups, KONEX Has the Answer." At this event, they plan to review the milestones of the KONEX market and explore future development plans.

Over the past 10 years, KONEX has grown significantly both quantitatively and qualitatively, establishing its identity as an incubating market for startups.

The number of companies listed on KONEX increased fivefold from 21 to 127, and the market capitalization grew more than tenfold from 400 billion KRW to 4.2 trillion KRW. To date, the funds raised by KONEX companies through the KONEX market have reached 2 trillion KRW, solidifying its position as a dedicated market for small and medium enterprises.

KONEX is also recognized as a Pre-KOSDAQ market, having strengthened its incubating function by establishing a comprehensive support system including various consulting and education services. Through this, 90 competitive small and venture companies have been transferred and listed on KOSDAQ.

The Korea Exchange plans to expand new listings and transfers following the implementation of the "KONEX Market Revitalization Plan," supported by major institutional improvements and active revitalization efforts.

Last year, the number of new listings on KONEX doubled compared to the previous year (from 7 to 14 companies). In the first half of this year, the number of listed companies reached 6, marking the largest scale in the past five years. By year, the number of new KONEX listings in the first half was 4 in 2019, 5 in 2020, 2 in 2021, 2 in 2022, and 6 in 2023.

Additionally, multi-faceted efforts were made to promote transfers of KONEX companies, including the establishment of three major consulting systems (internal accounting control system, disclosure system, transfer listing) and improvements to the transfer listing system. As a result, three companies completed transfer listings in 2023, and six are currently in progress (two approved, four under review). Both new listings and transfer listings are expected to increase compared to the previous year.

However, despite the easing of entry barriers such as the complete abolition of individual deposit requirements last year, the reduced trading volume due to the sluggish stock market has not yet recovered. Nevertheless, as transfer listings become more active and investor interest in KONEX increases, trading volume is expected to gradually rise.

In particular, the Korea Exchange anticipates that the trend of revitalizing the KONEX market will continue as funding support through scale-up funds becomes more active. The first scale-up fund, with a size of 100 billion KRW, has been formed and is currently disbursing investments. The second fund is planned to be raised this year.

Meanwhile, the Korea Exchange is conducting a KONEX-related quiz event for general investors from the 19th to the 30th. Participation is available through a popup on the Korea Exchange website, and prizes will be awarded by lottery.

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