April 26, 2024

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[THE INVESTOR] The secondary bourse KOSDAQ plans to introduce a new index comprising some members of the benchmark KOSPI in a bid to attract institutional investors, the financial regulator said on Oct. 26.

Kim Yong-beom, vice chairman of the Financial Services Commission, made the remarks during a meeting with officials from the KOSDAQ-listed firms, according to a statement released by the FSC.

Financial authorities have said they are considering giving tax breaks and easing listing rules to boost the KOSDAQ market. The aim is to help promising new companies raise funds on the market.

“The KOSDAQ market has not been evaluated as a healthy investment market, as institutional investors remain net sellers,” Kim told the meeting.

Along with tax benefits, the new index is expected to revitalize the KOSDAQ market, Kim said.

By Alex Lee and newswires (alexlee @heraldcorp.com)