Following his appointment as CEO of the Korea Exchange (KRX) on March 21, Lee Jung-hwan has announced his plans to further expand the Korean Securities Dealers Association’s Automated Quotations (Kosdaq), a trading board of the Exchange, by making it easier for companies to list their shares through a purpose-designed department.
“Many companies are hoping to list their shares on the Kosdaq, but many are having difficulty doing so because they don’t understand the listing process,” Lee said in a statement. “We will create an organisation responsible for advising companies that hope to be Kosdaq-listed firms. We hope that will lower the cost of listing,” he adds.
Daily trade on the Kosdaq was reported to be 650 million shares worth 2.6 trillion won ($2.6 billion) as of September 2007, second to the US Nasdaq.
Lee was appointed as KRX’s new CEO as part of a management reshuffle at the exchange. He replaced Lee Young-tak.