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21 firms seek to be listed on new venture-driven market

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(Globalpost/GlobalPost)

By Kang Yoon-seung

SEOUL, June 7 (Yonhap) -- South Korea's bourse operator said Friday it has received applications from 21 firms wishing to be listed on the new Korea New Exchange (KONEX) market catering to smaller industry players.

The Korea Exchange (KRX) said 10 brokerage houses, which were selected as authorized supervisors in March to evaluate and supervise firms to be listed on the envisioned market, handed in the list of candidates on Friday.

Slated to open on July 1, the KONEX market aims to foster growth of small- and mid-sized firms, and add to the KRX's business portfolio, which currently operates the benchmark Korea Composite Stock Price Index (KOSPI) and the tech-heavy KOSDAQ market.

Firms qualified to be listed on the KONEX market must either have equity capital above 500 million won (US$447,668), annual sales beyond 1 billion won, or a net profit of 300 million won.

IBK Investment

http://www.globalpost.com/dispatch/news/yonhap-news-agency/130607/21-firms-seek-be-listed-new-venture-driven-market