Key details
Any corporation intending to list its shares is required to apply for designation of an external auditor to the Securities and Futures Commission in the previous year or in the year when it wishes to list, and to be audited by the designated auditor.
Related rules and regulations
Article [ยง4(5)1] of the Enforcement Decree of the Act on External Audit of Stock Companies
Exceptions
The mandatory designation of the external auditor is exempted in cases of transfer of a company listed on the KOSDAQ market to the KOSPI Market, new listing on the KONEX Market and listing of a SPAC.
(Financial Supervisory Service: FSS)