KONEX IPOs Hit Record Low of 1 Company in 2026 as Market Value Plummets 46.7%

According to Korea Exchange, KONEX recorded only 1 new listing in 2026 as of July 3, marking a historic low following 14 listings in 2022 and 2023, 6 in 2024, and 4 in 2025. The market has contracted sharply: listed companies declined from 154 in 2017 to 107 currently (down 30.5%), while market capitalization fell from 6.25 trillion won in 2018 to 3.33 trillion won, a 46.7% drop. Daily trading volume has dried up, averaging just 421.19 million won on July 2 compared to 7.4 billion won at its 2021 peak, with 32 of 107 listed firms recording zero shares traded. Korea Exchange attributed the decline to companies bypassing KONEX via expanded tech-track IPO rules to list directly on KOSDAQ, eroding KONEX's role as a growth ladder for emerging companies.
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