Over the past five years, companies listed on KOSDAQ averaged 88 a year, and technology special-case listings accounted for about 39 percent of the total.

At a forum titled "A major governance overhaul at the exchange for productive finance" held on March 26 at the National Assembly Members' Office Building in Yeouido, Seoul, Choi Ji-woo (최지우), deputy head of the KOSDAQ Market Division at the Korea Exchange, said the share of new listings under the technology special-case scheme has kept rising, with 42 in 2024, the highest on record.

He said technology special-case listing has become KOSDAQ's leading initial public offering track. He noted that six of the largest KOSDAQ firms by market capitalisation are in pharmaceuticals and biotech, and three of them were listed under the technology special-case scheme.

He also said that for innovative technology companies facing large early-stage research and development costs, there have been steady calls for listing standards tailored to the characteristics of each technology. He said tailored technology special-case listings will be fully introduced for areas including national strategic technologies.

Earlier, financial authorities announced they would expand KOSDAQ's tailored technology special-case listing scheme in measures to stabilise and improve the capital market released after a meeting on capital market stability and normalisation hosted by President Lee Jae-myung on March 18 at Cheong Wa Dae.

The Financial Services Commission decided to add six areas this year, including advanced robotics, K-content and cybersecurity, to the existing scope of bio, artificial intelligence, space and energy.

Choi also pointed out that institutions' investment share in the KOSDAQ market is low at 5 percent, and said restructuring fund management evaluations could strengthen incentives for the national pension funds to participate in KOSDAQ.