How do KOSDAQ listing requirements differ from KOSPI's?

The KOSDAQ market centers on small and medium-sized, venture and growth companies; since 2018, requirements on business history, size and capital impairment have been abolished, and the formal requirements have been revised to reflect future growth potential.

Listing tracks are divided into general companies (including venture companies), assessed on criteria such as profitability, revenue, market valuation and growth, and technology growth companies, which obtain a technology assessment or a recommendation from a listing sponsor. Share distribution requirements, such as having at least 500 minority shareholders, must also be met.