Korea Exchange (KRX) has introduced customized screening criteria reflecting industry-specific characteristics to support KOSDAQ listings for companies in critical national technology sectors including artificial intelligence, energy and space industries. Additionally, listing maintenance requirements for KOSDAQ-listed companies will become more stringent under the phased strengthening of delisting standards.
KRX announced on the 5th that it has completed amendments to the KOSDAQ listing rules implementation guidelines to introduce "customized technology special listing" as a follow-up measure to the KOSDAQ market trust and innovation enhancement plan. The key objective of this amendment is to establish customized technology screening criteria reflecting industry-specific characteristics to support expedited listings for companies with nationally important core technologies.
Notably, considering the need to support the AI industry amid intensifying global competition, KRX has established different screening criteria for each segment of the AI industry value chain. The "AI semiconductor design and manufacturing" sector will be evaluated primarily on product reliability, stability and cost competitiveness, while the "AI model and app development" sector will be assessed mainly on the quality of collected and held data, and the excellence of data learning and inference algorithms.
For the energy sector, which is experiencing robust growth worldwide backed by government policy support, customized screening criteria have been established separately for renewable energy including solar and wind power, as well as energy storage systems (ESS). Criteria for the space industry have also been developed considering the need for long-term research and development, large-scale funding requirements, and the potential to enhance national prestige upon success.
KRX plans to establish additional screening criteria for other industries during this year, taking into account policy direction, growth potential, long-term R&D requirements and domestic corporate value chains.
Meanwhile, starting this month, the market capitalization threshold for KOSDAQ delisting has been raised from 40 billion won to 150 billion won. Accordingly, if a company's market capitalization remains below 150 billion won for 30 consecutive trading days, it will be designated as an "administrative issue stock," and will be delisted if it fails to meet the criteria within a specified period thereafter. The market cap threshold will be raised further from 150 billion won this year to 200 billion won in 2027 and 300 billion won in 2028. Revenue thresholds are scheduled to change to 50 billion won in 2027, 75 billion won in 2028, and 100 billion won in 2029.
In addition, KRX plans to introduce an "industry-specific technology advisor system" during the first quarter of this year to support tech company listings. "The purpose is to enhance expertise and speed in screening technology companies," a KRX official said. "We will appoint advisors by sector to support smooth listings for innovative technology companies."