A government pilot project to promote the support of enterprises’ initial public offerings (IPO) and mergers and acquisitions (M&A) will commence this year.
The National Creative Economic Innovation Center stated on the 21st that it signed a business cooperation agreement with the Korean Exchange, Korean Venture Association, and Korean Venture Capital Association to establish a capital market for incubating enterprises and sunrise enterprises. According to the agreement, startups’ non-listed shares can be traded, that is to say the Korean Startup Market (KSM) is expected to open this year.
Enterprises that successfully raise funds, innovation centers, financial institutions, and policy recommendations will be registered in the KSM and can apply for a special case in the Konex market.
In order to make a renewable startup market, the Creative Economic Innovation Centre M&A market, the Korean Exchange, Korean Venture Association, and Korean Venture Capital Association will cooperate to use their professional skills and experience to promote enterprise acquisition through an intermediary website.
