If an offering is under KRW 1 billion, is it exempt from filing a securities registration statement?

Yes. So-called 'small-scale public offerings', which qualify as public offerings or sales but are under KRW 1 billion, do not require a securities registration statement.

Instead, so that investors can learn basic information about the issuer, small-scale offering disclosure documents such as an audit report must be submitted at least 3 days before the offering or sale begins, and a results report when it ends. Because there is no review of a registration statement, investors need to check the information carefully themselves.