[Last updated: 1 February 2026, unless otherwise noted]
To qualify for listing, a company must meet at least one of the following tests:
Sales and Profit test
1. Sales of KRW 100 billion (approx. US$69 million) for the latest fiscal year and average sales of KRW 70 billion (approx. US$48.3 million) for the most recent three fiscal years.
2. Positive operating income, income from continuing operations before tax and net income for the latest fiscal year.
3. ROE and income (either i, ii or iii)
- ROE: 5% of ROE for the latest fiscal year and an aggregate of 10% of ROE in the most recent three years.
- Income: Net income of KRW 3 billion (approx. US$2.07 million) for the latest fiscal year and an aggregate of KRW 6 billion (approx. US$4.14 million) in the most recent three years.
- For a company over KRW 100 billion (approx. US$69 million) of shareholders’ equity, 3% of ROE or net income of KRW 5 billion (approx. US$3.45 million) for the latest fiscal year and positive cash flow from operating activities.
Sales and Market capitalization test
1. Sales: Higher than KRW 100 billion (approx. US$69 million) for the latest fiscal year.
2. Market capitalization: Higher than KRW 200 billion (approx. US$138 million).
Net income and Market capitalization test
1. Net income: Higher than KRW 5 billion (approx. US$3.45 million) for the latest fiscal year.
2. Market capitalization: Higher than KRW 200 billion (approx. US$138 million).
Market capitalization and Equity capital test
1. Market capitalization: Higher than KRW 500 billion (approx. US$345 million).
2. Equity Capital: Higher than KRW 150 billion (approx. US$103.5 million).
Market capitalization test
Market capitalization: Higher than KRW 1 trillion (approx. US$690 million).
Note: Certain types of companies are subject to modified listing and ongoing compliance rules. For example, when the KRX conducts a qualitative review of large companies that meet certain criteria, the KRX may not consider corporate sustainability. In addition, for a listed company whose total assets as at the end of the latest business year exceed KRW 2 trillion (approx. US$1.38 billion), more rigorous criteria are applied regarding independent directors and establishing an audit committee. Fast track listings may be used by public corporations and for second listings by foreign companies, in certain circumstances.
[Last updated: 1 February 2026, unless otherwise noted]
Share price. The KRX does not require a minimum trading price.
Distribution. To list its securities, the applicant must have:
- At least 10% of its shares in public hands.
- At least 500 shareholders.
Capital size. Shareholders’ equity must be greater than KRW 30 billion (approx. US$20.7 million), and the number of shares to be listed must exceed one million.
Operating history. A listing applicant for KOSPI market must have been incorporated and operating at least three years.
Accounting standards. The audited financial statements must be prepared in accordance with K-IFRS, while the financial statements attached to a listing application of a foreign company should be prepared in accordance with K-IFRS, International Accounting Standards or US GAAP.
Financial statements. The listing document must generally include three years' audited financial statements and, if the latest financial year ended more than six months and 45 days before the date of the listing document, financial statements for the year of the listing review must also be included.
Other markets. The KRX also offers listings on the KOSDAQ Market, which has less stringent listing requirements. Information about the KOSDAQ Market can be found in the long-form KRX chapter of this Guide.
[Last updated: 1 February 2026, unless otherwise noted]
The KRX Listing Disclosure Committee will evaluate the company to determine whether the company meets the requirements of the KRX Listing Regulations. Below is a fairly typical process and timetable for a listing of a company on the KRX.
[Last updated: 1 February 2026, unless otherwise noted]
Requirements for public companies include:
- Appointment of a prescribed number of independent directors.
- Establishment of an audit committee, when the company's total assets as at the end of the latest business year exceed KRW 2 trillion (approx. US$1.38 billion).
- Independent business management and auditors.
- Internal control regulations are established and implemented to be compatible with related regulations.
- Human resources necessary to adequately perform the disclosure obligations.
- Transparency of accounting management.
A listed company has continuing disclosure and reporting obligations under the Financial Investment Services and Capital Markets Act and the KOSPI Market Disclosure Regulation.
A listed foreign company has additional reporting obligations regarding the report obligations and other exchange-related events in its home country.
[Last updated: 1 February 2026, unless otherwise noted]
A company seeking to list must pay listing review fees, initial listing fees and ongoing fees. The listing review fee ranges from KRW 5 million (approx. US$3,450) to KRW 20 million (approx. US$13,800) depending on the equity capital of the company to be listed. The initial listing fee ranges from KRW 1 million (approx. US$690) to KRW 250 million (approx. US$172,500) depending on the monetary value of the equity securities to be listed. The annual listing fee ranges from KRW 1.2 million (approx. US$828) to KRW 50 million (approx. US$34,500), depending on the average market capitalization.