] The Korea Exchange announced on Oct. 25 that an over-the-counter stock market for promising startups will open here on Nov. 14.
The new market, named the KRX Startup Market, will be focusing more on technology-intensive startups than other OTC markets oriented toward unlisted large companies and middling firms.
Retail investors will be attracted to invest in competitive local startups with great growth potential, the KRX said.
Startups wanting to trade their shares on the KSM should meet a set of requirements: They should succeed in raising funds through crowdfunding programs online or receive recommendations from state-run financial institutions, such as the Industrial Bank of Korea and the Korea Development Bank.
“We are aiming to enable the KSM to serve as a springboard for startups to be listed on stock exchanges, such as KONEX and KOSDAQ,” a KRX official said.