South Korea\'s financial authorities will in principle ban asymmetric duplicate listings that do not take into account the rights of ordinary shareholders in parent companies. To list a subsidiary, the parent board must prepare a shareholder impact assessment and shareholder protection measures, and in some cases obtain shareholder approval. The Financial Services Commission and Korea Exchange began public consultation on rule revisions and new guidelines, including special screening and a requirement for shareholder approval for subsidiaries created through spin-offs.

Discussion is gathering pace on restructuring South Korea’s Kosdaq market as it marks its 30th anniversary. The government and Korea Exchange plan to restore trust by removing troubled firms, supporting listings of innovative companies and separating market segments. Authorities also aim to expand productive finance for innovative companies, including raising small public offering limits and forming a venture secondary fund worth at least 2 trillion won, while stepping up enforcement against unfair trading.