The KONEX market, created to serve as a catalyst for technology and growth innovation corporations, is unable to escape the low-growth swamp. The revenue growth rate is minimal, with nearly half of the corporations continuing to operate at a loss.
According to the Korea Exchange's report on the 'KONEX market December settlement of account results for corporations in the 2024 business year' released on the 2nd, the revenue of 103 analyzed corporations last year was 2.0645 trillion won. This was only a 2.1% increase from 2023.
By industry, the manufacturing and IT sectors saw revenues increase by 9% and 3.1% respectively last year compared to 2023, but the bio, distribution, construction, and content-service sectors all saw declines. The Korea Exchange assessed that intensified global competition, sluggish domestic demand, and underperforming major corporations impacted the overall performance of the KONEX market.
Among the 103 analyzed corporations, 37 were profitable (35.9%), while 66 were operating at a loss (64.1%). Of the loss-making corporations, 50 (48.5%) recorded losses both in 2023 and last year. There were 23 (22.3%) that maintained continuous profitability.
In terms of combined performance, all sectors experienced operating losses and net losses. The bio sector had the highest number of corporations continuing to operate at a loss, with 20. Conversely, among those maintaining profitability, the manufacturing sector had the most, with 8.
Among the listed companies in the KONEX market, 16 were not even included in the analysis. Eight listed companies failed to submit business reports or extended the submission deadline. Three listed companies received unqualified audit opinions, and one listed company had grounds for delisting. The remaining four changed their settlement of account period or accounting standards.