Photo : YONHAP News
Financial authorities will seek to ban “duplicate listings” of conglomerate subsidiaries and revamp the tech-heavy KOSDAQ market.
Financial Services Commission Chairman Lee Eog-weon unveiled the plans Wednesday at the top office during a meeting on ways to stabilize and normalize the capital market.
Lee said the commission will devise specific criteria and conduct thorough inspections to prohibit duplicate listings so that common shareholders’ rights and interests aren’t undermined by the simultaneous listing of parent companies and subsidiaries.
The commission also plans to overhaul the KOSDAQ market and create a two-league system, with one league comprising mature, innovative companies and the other made up of companies in the process of growing.
With the effort, the financial authorities are aiming to boost market competitiveness and vitality by enabling companies to move in line with their level of growth.