The Korea Exchange (KRX) proposed a KOSDAQ listing to an artificial intelligence (AI) company whose competitiveness was recognized to the extent that it received an acquisition offer from global big tech, moving to attract it to the domestic stock market.
The Korea Exchange (KRX) said on the 4th that it held a roundtable at Pangyo Techno Valley with the chief executive officers (CEOs) of five domestic AI corporations—DeepX, Rablup, Rebellions, Upstage, and FuriosaAI—and explained customized technology exception listing rules.
The roundtable was held to support KOSDAQ listings by AI corporations, with the exchange introducing regulatory improvements and listening to companies' difficulties.
In particular, FuriosaAI received an acquisition offer worth $800 million (about 1.178 trillion won) from global big tech Meta in March last year but turned it down. In the industry, there has been steady talk that FuriosaAI, which is receiving higher corporate valuation overseas, could list on the U.S. Nasdaq.
Against this backdrop, the exchange proposed a technology exception listing, taking active steps to attract promising AI corporations to the domestic stock market. However, some noted it is uncertain whether this could serve as a practical incentive for corporations highly valued in global markets.
On the day, AI corporation heads were said to have freely shared the difficulties they feel while preparing for listing and their views on the rules.
Jeong Eun-bo, chairman of the Korea Exchange (KRX), said, "The Korea Exchange will actively support leading domestic AI corporations with strong performance and the innovation industry so they do not face difficulties in the process of preparing to list."