Listing Requirements for KOSPI Market
Criteria
Criteria Listing Requirements
Years in operation since incorporation At least 3 years
Business size Equity Capital1) At least KRW 30 billion
No. of Shares
to be listed
At least 1 million shares
Distribution of stocks To meet all of the following requirements :
  1. To meet any one of the following shares requirements
    • At least 25% of shares or 5 million shares held by public shareholders
    • At least 25% of shares or 5 million shares to be publicly offered(Including no. of shares before submission of application for listing eligibility review)
    • At least 10% of shares to be publicly offered after submission of application for listing eligibility review & At least the No. of the public offered shares should be as follows
      • 1 million shares : KRW 50 billion Equity Capital < KRW 100 billion or KRW 100 billion Market Capitalization < KRW 200 billion
      • 2 million shares : KRW 100 billion Equity Capital < KRW 250 billion or KRW 200 billion Market Capitalization < KRW 500 billion
      • 5 million shares : KRW 250 billion Equity Capital or KRW 500 billion Market Capitalization
    • In case of the simultaneous offering in Korea and abroad, At least 10% of shares and 1 million shares to be publicly offered
  2. At least 700 public shareholders
No restriction placed on transfers of shares
Financial Performance
(Choose one of the options)
  1. To meet all of the following 'Sales & Profit requirements'
    • Sales : Higher than KRW 100 billion for the latest fiscal year &
      KRW 70 billion on average of the recent 3 fiscal years
    • Profit
      • An operating profit, a profit before income tax from continuing operations, and a current net income in the latest fiscal year have realized in the recent fiscal year &
      • To meet one of the following
        • Net Income : Higher than KRW 3 billion of the latest fiscal year & KRW 6 billion in total of the recent 3 fiscal years
        • ROE : Higher than 5% of the latest fiscal year & 10% in total of the recent 3 fiscal years
        • In case of Large-sized company(The company with equity capital over KRW 100 billion) : ROE Higher than 3% or Net income higher than 5 billion, & Operating cash flow is positive
  2. To meet all of the following 'Sales & Market capitalization requirements'
    • Sales : Higher than KRW 100 billion of the latest fiscal year &
    • Market capitalization : Higher than KRW 200 billion
    • Market capitalization : the amount determined by multiplying the issuing price at the time of recent public offering or secondary distribution by the number of stocks to be listed as of the listing application date
  3. To meet all of the following 'Net income & Market capitalization requirements'
    • Net income : Higher than KRW 5 billion of the latest fiscal year &
    • Market capitalization : Higher than KRW 200 billion
  4. To meet all of the following 'Market capitalization & Equity capital requirements'
    • Market capitalization : Higher than KRW 600 billion &
    • Equity Capital : Higher than KRW 200 billion
Auditor’s opinion
  1. The latest fiscal year : Unqualified
  2. 2 fiscal years before the latest fiscal year : Unqualified or qualified
    (Excluding qualified opinion due to the limit placed on the scope of audit)
Including the audit opinion on the consolidated financial statement, if the company is subject to the preparation of consolidated financial statement
Restriction on disposal of shares held
by Largest Shareholder, etc.
For 6 months after listing
fn. 1)
Limited to the sales of goods and provision of services (In case of holding company, it refers to the sales amount stated in the consolidated financial statement)
fn. 2)
In case of company subject to the preparation of consolidated financial statement, the consolidated financial statement shall be used as the basis, but the non-controlling interests shall be excluded from equity capital