South Korea's KRX Revises Listing Rules, Tech Exemption IPOs Face Delisting Review if Primary Business Changes Within 5 Years

According to Digital Asset, South Korea's Korea Exchange (KRX) announced revisions to its listing rules today (July 2) to close regulatory loopholes and prevent tech exemption program companies from pivoting to virtual asset custodial management. Under the new rules, firms that went public via tech exemption procedures will face substantial delisting review if they change their primary business purpose within five years of IPO. The rule defines business purpose changes as amendments or supplements to corporate bylaws, excluding modifications to businesses similar to or ancillary to their original operations.
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