한국거래소 is working on the introduction of a 'KOSDAQ Segment' to group high-quality companies within the KOSDAQ market, while finalizing criteria for inclusion, the number of stocks, and incentives.
According to financial investment industry sources and the office of Shin Dong-wook, a member of the National Assembly's Political Affairs Committee, the exchange formed an advisory group for the KOSDAQ Segment in June and has held five meetings by September 11. The advisory group consists of 13 experts from academia, the venture industry, pension funds, asset management firms, investment banks, and securities companies.
A key issue discussed by the advisory group is the criteria for inclusion in the upper segment. There are differing opinions on whether to prioritize financial stability and performance to attract institutional and long-term investors, or to include companies with technological capabilities and growth potential, considering the unique characteristics of KOSDAQ.
Support measures for companies excluded from the upper segment are also under discussion. To prevent these companies from being perceived as low-quality in the market, options such as policy funds and tax benefits are being considered. However, tax incentives will require consultations with relevant agencies, which may delay finalization.
The appropriate number of stocks in the upper segment is another variable. If the number is too small, it could lead to capital concentration and increased volatility, but stricter selection criteria than the existing KOSDAQ 150 may be necessary to attract institutional investors.
In July, the exchange indicated that it was considering 'KOSDAQ Select' as the name for the upper segment. Initially, it was expected to announce the restructuring direction during the 30th anniversary event, but this has been postponed. Detailed plans are expected to be presented during 'Korea Premium Week' at the end of this month. However, the scope of the discussions has not yet been finalized.
* This article has been translated by AI.
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