South Korea’s bourse operator said Tuesday it has selected 21 firms to be listed on the Korea New Exchange market, which is set to launch in July to assist the growth of small players.

Earlier this month, 10 brokerage houses, which were selected as authorized supervisors by the Korea Exchange to evaluate and supervise firms to be listed on the envisioned market, handed in the list of 21 candidates.

“The KRX finalized the list based on the firms’ growth potential as well as leadership of their management,” said Choi Hong-shik, an official from the KRX. “We thoroughly selected the companies after visiting their headquarters.”

The KONEX market aims to foster the growth of small- and mid-sized firms, and add to the KRX’s business portfolio, which currently operates the benchmark Korea Composite Stock Price Index and the tech-heavy KOSDAQ market.

“The new market will foster and assist listed firms to grow to be re-listed on the tech-heavy KOSDAQ market and on the main bourse,” Choi said. “It will act as a nursery of young companies.” (Yonhap News)