What it is
A company seeking to list applies to the Korea Exchange with its lead underwriter. The exchange checks operating record, governance stability, share distribution and accounting before approving. Only then can the registration statement, book-building and subscription follow.
How long it takes
Reviews usually run a couple of months but can stretch out, and approval lapses if the listing is not completed within the allowed window (typically six months).
What to keep in mind
Approval is not a guarantee of listing — it only clears the next step. Applications and approvals appear first on the exchange disclosure system (KIND); the offering schedule shows up later in DART filings.
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This explanation is general information, not investment advice. Rules reflect September 2026 and may change; check official exchange and broker notices.