- Listing Procedure
Listing application for debt securities can be submitted over Internet, using the Bond Listing Systemin the KRX website or " ". The supplementary documents can be submitted by uploading in the Bond Listing System, and the result can also be confirmed at the same system.
- Bond Listing System
- When applying for Listing
- - Bond requiring filing of securities registration : when the securities registration is accepted
- - Bond exempt of filing of securities registration : Before 10th of the month following the issuance month
- Completion of Application: When all required documents are submitted and the application fee is paid
- Notification Time : Immediately after the confirmation
- Confirmation of listing : Bond Listing System
- Confirmation of standard code : Standard Code System
- Calculation and application of substitution price of initially listed bond Make public thru the KRX homepage and check terminal on the day after listing day
- Listing of Government Bond
Government bonds are listed upon receiving the listing application, without listing examination. Of the government bonds issued presently, the treasury bonds and treasury bill are listed on the issuing day and according to the regulations governing shelf listing of bonds, the national housing bond (1&2) is listed on the first day of each month. Listing of the treasury bonds and treasury bill are handled by the Bank of Korea over Internet, and for the listing of the national housing bond (1&2), the KRX lists the scheduled quantity on the first day of each month, and adjusts the listing value upon receiving the notice of issuance value following confirmation of bond issuance for the concerned month.
- Listing of Municipal Bond
In common with government bonds, taking into account their public benefits, municipal bonds are listed without listing examination. Listing of shelf-listed municipal bonds, i.e., the provincial development bonds and local subway bonds, is handled in the same way as the national housing bonds (1&2), and listing of bonds issued through public offering is handled in the same way as the corporate bonds. The documents required for listing application for provincial development bonds and subway bonds are an application for self listing and report on result of issuance, and the documents required for listing of the municipal bonds issued through public offering include an application for listing, trust deed, underwriting agreement or sales contract, a copy of an agreement on offering on commitment (only in case where the concerned bonds are issued through indirect offering), etc. Listing application for bonds can be submitted over Internet
- Listing of Special Bonds
Special bonds are listed differentially depending on the types of bonds.
- Monetary Stabilization Bonds
In common with government bonds, listing application of the monetary stabilization bonds is made on the day of sale or bidding, and they are listed on the issuance day.
- Public bonds
Special bonds prescribed in the Financial Investment Services and Capital Markets Act are issued indirectly through securities firms. For their convenience, the issuing firms are allowed to compile all bonds issued during a month and submit the listing application for such bonds collectively by 10th of the following month.
- Financial special bonds and non-financial special bonds
Special bonds are mostly issued indirectly by underwriting institutions, and issuing institions may apply for listing by 10th of the next month by collecting the bonds issued during the relevant month for convenience.
- Shelf-listing bonds
Land and Housing Bond (site) is listed as shelf-listing bonds along with Metropolitan Transit Bond, which is a municipal bond. At the end of the year, KRX receives application for shelf-listing of bonds to be issued daily in the following year, lists such bonds on the scheduled date that they have applied, and determines listing prices after being notified of issuing prices of bonds determined to be issued in the concerned month.
- Monetary Stabilization Bonds
- Listing of Corporate Bonds
Listing of corporate bonds are make based on the issuing day. An issuing corporation submits listing application to the KRX which thereupon reviews its listing eligibility. Listing application should be submitted after the FSC has accepted the securities registration statement.
- Listing of Foreign Bonds
Foreign debt securities refer to the debt securities issued by a foreign entity (including the foreign governments, foreign municipal government, foreign public organizations, the foreign corporations established by foreign laws and regulation and the international financial organizations established by an international treaty)
Because of the difficulties involved in assessing the trustworthiness / soundness of foreign corporations, etc. listing of foreign debt securities requires a careful listing examination. Accordingly, in order to ascertain the facts that issuing conditions of the foreign debt securities meet the requirements for investor protection and are compatible with the listing and trading systems of the KRX and to take appropriate measures if necessary, any one who intends to list foreign debt securities is required to consult with the KRX on such matters as listing procedures and time schedule prior to the submission of an application.