What is the preliminary listing review and how long does it take?

The preliminary listing review examines whether a company seeking to list meets the exchange's formal and qualitative requirements.

For the KOSPI market, the exchange notifies domestic companies of the result within 45 business days of receiving the application, and it advises that it takes about 4 months from applying for the preliminary review to the new listing. A fast track shortens the review period to 20 business days for high-quality companies that meet certain requirements, and the period may be extended if additional review is needed.