Key details

Any corporation satisfying the quantitative listing criteria for initial listing can apply for listing eligibility review. However, in case where the Exchange turns down the listing application or invalidate the approval of listing eligibility as the applicant received disciplinary measures from the Securities and Futures Commission by violating accounting standards in the financial statements, the application for listing eligibility review by the applicant concerned may be restricted for the certain period of time.

Application for listing eligibility review and related fees

When an applicant for initial listing submits the application for listing eligibility review to the Exchange, it should pay the fees for listing review (KRW 5 million to the KOSPI market and KRW 1 million to the KOSDAQ market).

The Exchange reviews listing eligibility of the corporation concerned based on the application and the documents attached.

KOSPI market - Application documents for listing eligibility review - corporations
  1. Separate and consolidated financial statements of the recent 3 business years and auditor’s audit reports
  2. In case where 45 days have lapsed since the end of the semiannual period of the fiscal year where the submission date for listing eligibility review belongs, the semiannual separate and consolidated financial statements of the fiscal year concerned and the auditor’s review reports
  3. The written affirmation for safekeeping of the stocks held by the largest shareholders and the safe custody certificate of the stocks held by the largest shareholders issued by the Korea Securities Depository
  4. Specimens of the stocks or the certificate of issuance of uniform stock certificates
  5. Confirmation of an entry of depository accounts
  6. Copies of the transcript of corporate registry and the articles of incorporation
  7. Register of shareholders and register of beneficial shareholders as of the end of the latest fiscal year
  8. Copies of the transfer agency service contract
  9. Other documents the Exchange deems necessary for listing eligibility review
KOSPI market - Application documents for listing eligibility review - holding companies
  1. Financial statements of the recent 3 business years of the holding company and subsidiaries and auditor’s audit reports
  2. Consolidated financial statements of the recent 3 fiscal years and auditor’s audit reports
  3. The written affirmation for safekeeping of the stocks held by the largest shareholders and the safe custody certificate of the stocks held by the largest shareholders issued by the Korea Securities Depository
  4. For a holding company pursuant to [§31(2)] of the Listing Regulation, the business plan and forecasted statements of revenues and expenditures for the next 3 business years of the holding company and its subsidiaries
  5. Specimens of the stocks or the certificate of issuance of uniform stock certificates
  6. Confirmation of an entry of depository accounts, certified copy of the transcript of registration (including those of subsidiaries) and articles of incorporation (including those of subsidiaries)
  7. A copy of the report registered to the Fair Trade Commission or a copy of the certificate of authorization by the FSC
  8. Register of shareholders and register of beneficial shareholders as of the end of the latest business year
  9. Copies of the transfer agency service contract
  10. Other documents the Exchange deems necessary for listing eligibility review
KOSDAQ market - Application documents for listing eligibility review
  1. Register of shareholders as of the end of the latest fiscal year
  2. Specimens of stock certificates by each denomination or confirmation letter for the issuance of the stock certificates by the transfer agent
  3. Opinion letter issued by the primary creditor bank
  4. Document proving the completion of training course organized by the Exchange to support the listing
  5. Copies of specimens of all denominations of issued stocks or copies of documents that the Korea Securities Depository or other transfer agents have issued to certify the issuance of concerned stocks,
  6. Copies of written confirmation on the non-existence of parties in special relationship including affiliates,
  7. Copies of the opinion letter of the main creditor bank
  8. For venture companies, copies of written venture company certificate and copies of written certificate for technically innovative small and medium enterprise,
  9. Documents proving the completion of training course provided by the Exchange,
  10. Copies of written summary of investments made by the interested parties,
  11. Written opinion of a main bank
  12. Confirmation letter of investment status of the interested parties
  13. Copies of the transfer agency service contract
  14. Other documents the Exchange deems necessary for listing eligibility review

In case of occurrence of the following matters until the previous day of the initial listing after the application for listing eligibility review, an applicant corporation shall submit the relevant documents.

  1. Copies of the minutes when there is a resolution from the board of directors or the general shareholders’ meeting regarding the matters related to the securities
  2. Relevant report when the important matters related to business management occurs
  3. Prospectus in case of reporting public offering or secondary market offering (including preliminary and simplified prospectuses)
  4. Semiannual financial statements and the auditor’s review report thereon in case of passing 45 days after the semiannual settlement of the business year concerned
  5. Financial statements of the latest fiscal year and auditor’s report thereon to be submitted at the general shareholders’ meeting where the settlement of accounts of the latest fiscal year is approved