Do 'going public' and 'listing' mean the same thing?

They are often used interchangeably, but strictly speaking they differ. Listing means granting the securities of a company that meets the exchange's requirements eligibility to be traded on the KOSPI, KOSDAQ or KONEX market, whereas going public means dispersing shares through a public offering (offering or sale) and regularly disclosing information about the company.

Listing and going public have been separated since April 1999, and the exchange now substantively conducts listing reviews.