Jipyong LLC held a forum to examine ways to respond to trends in the initial public offering (IPO) market and changes in listing regulations. The focus was on issues corporations must check in practice, from key questions at the listing review stage to post-listing maintenance requirements.
Jipyong's Capital Markets Group held the "2026 Jipyong IPO Forum" at its headquarters in Jung-gu, Seoul, on the 15th. The event reviewed this year's IPO market environment and regulatory changes and proceeded by sharing practical points of caution for corporations preparing to list, lead underwriters, and advisors.
The first session addressed key issues at the listing review stage. Partner attorney Seo Min-a explained management stability and shareholder agreement issues, saying, "Even if a particular mechanism was effective for attracting investment when unlisted, it can act as a risk factor during the listing review process." Seo added, "There is a need to closely review the equity structure after the exercise of conversion rights," and "For contract clauses that are difficult to tidy up, it is important to clearly design the termination timing and scope of effect."
Partner attorney Lee Yu-jin presented what a company planning to list must prepare in line with the implementation of the amended Commercial Act. Lee said, "The amended Commercial Act aims to place more weight on management transparency among qualitative IPO review requirements," adding, "It is necessary to proactively document the consideration of alternatives to enhance shareholder value in the decision-making process and to secure a quorum for the general meeting of shareholders."
The second session discussed post-listing management issues. Senior expert committee member Jang Young-eun explained recent trends in listing maintenance requirements and noted that the management burden after listing is growing. Jang said, "Since the launch of the new administration last year, the stock market has grown rapidly, and expectations in the IPO market have continued," but added, "As the government pursues improvements to the capital market's fundamentals and a leap to a premium market, the importance of managing listing maintenance requirements is also increasing."
Next, Kim Tae-o, Head of Team of Mirae Asset Securities' IPO Division, outlined IPO market trends and the characteristics of each listing method, introducing listing strategies suited to corporations' situations. During the Q&A, discussions continued on tougher listing review standards, internal control systems after listing, and response directions amid market changes.
In closing, Chae Nam-gi, head of Jipyong's Listing Maintenance Support Center, said, "The recently strengthened delisting standards of the exchange can be a heavy burden on corporations whose growth has slowed after listing," adding, "Corporations need to review their current management situation and make efforts to address problems in advance." Managing partner Lee Haeng-gyu of Jipyong said, "I hope this forum has provided practical takeaways for corporations preparing IPOs, lead underwriters, and advisors."