The Korea New Exchange ( KONEX ) market , South Korea ’ s third stock market for small and mid - sized business ( SMB ) , after the main bourse KOSPI and junior bourse KOSDAQ , will be set up within the first half ( H 1 ) of this year . The new market , which is in line with the new government ’ s efforts to foster SMBs , is expected to help SMBs to go public and contribute to their direct financing . The Financial Services Commission ( FSC ) announced Sunday that it approved the revision to the relevant regulations on KOSDAQ to create the KONEX market upon the request of the Korea Exchange ( KRX ) . The FSC was supposed to open the KONEX market by revising the existing laws but they shifted their course to make a revision to the requirements of the KRX as a bill to revise the current Capital Market and Financial Investment law failed to pass the National Assembly . For SMBs to be listed on the KONEX market , those with appropriate reviews from outside auditors need to meet at least one of the three following requirements including equity capital worth 500 million won ( $ 4 . 5 billion ) , one billion won sales and 300 million won net sales . Eligible SMBs then are required to proceed with their listing work in consultation with advisers to be designated next year ( securities firms ) . The KRX is set to begin its work on the development of the KONEX market transaction system in cooperation with securities firms and KOSCOM . [ Written by Soo - hyun Oh - Jieun Lee / edited by Soyoung Chung ] [ ⓒ Maeil Business Newspaper & mk . co . kr , All rights reserved ]