KRX Tightens Regulation on Technology Exception Listings, "Crypto Industry Backdoor Listing" Path Blocked

According to Digital Asset, the Korea Exchange (KRX) announced revisions to listing rules, stipulating that if technology special listing companies change their main business purpose within 5 years after listing, they will be included in the scope of substantive delisting review. This move primarily targets cases where some biotechnology and other enterprises, after listing on KOSDAQ via technology special exemption, transform their main business into digital asset investment or virtual asset treasury (Crypto Treasury). KRX clearly pointed out that such changes indicate that the original technological capability and growth potential are no longer valid, necessitating a delisting review. In addition, special listing companies must mandatorily disclose corporate value enhancement plans during the listing exemption period to protect investors' right to know. This revision also covers the expansion of quality inspection standards for innovative enterprises, the establishment of a disclosure system for low PBR companies, and the improvement of systems related to multiple voting rights stocks.