The KONEX stock market recorded a market capitalization of 3.2919 trillion won as of the 24th, according to Korea Exchange data released on the 26th. The market has seen its market cap fall by more than half from the 7 trillion won level reached in 2018-2019, driven by declining new listings and persistent liquidity contraction. The number of listed companies has decreased to 108 from 150 in early 2020, while daily average trading volume fell to 628.85 million won this month through the 24th—the first time the monthly average has dropped below 700 million won since December 2014. Industry observers attribute the contraction to deteriorating liquidity making capital raising difficult and the availability of technology-based special listing pathways allowing companies to list directly on KOSDAQ.
KONEX Market Cap Falls to 3.2919 Trillion Won from 7 Trillion Won Peak
KONEX market capitalization stood at 3.2919 trillion won as of the 24th, Korea Exchange reported on the 26th. The market cap reached the 7 trillion won level during 2018-2019 but has declined steadily since then. The number of listed companies currently stands at 108, down from 150 in early 2020. Companies have continued to delist due to transfers to KOSDAQ or business difficulties, while new listings have slowed. From the market's 2013 launch through 2023, an average of 27 companies listed annually. New listings dropped to 6 in 2024, 4 in 2025, and only 2 companies have listed in 2026 so far.
Daily Trading Volume Drops to 628.85 Million Won Level
Daily average trading volume on KONEX reached 628.85 million won this month through the 24th, a 6.8% decline from the previous month, Korea Exchange data showed. The monthly average has remained in the 600 million won range for two consecutive months. This marks the first time since December 2014 that the monthly average daily trading volume has fallen below 700 million won. In December 2014, the market capitalization was 1.4252 trillion won—approximately 40% of the current level—indicating that liquidity has deteriorated relative to market size.
Financial Services Commission Announced Revitalization Plan in January 2022
The Financial Services Commission announced a revitalization plan for the KONEX market in January 2022. Oh Kwang-young, researcher at Shinhan Investment & Securities, stated that the market appeared to emerge from two years of severe underperformance following the announcement. However, growth has slowed sharply again as the number of listed companies has plummeted. A financial investment industry official noted that funds have concentrated in large-cap stocks on the KOSPI market, preventing capital from flowing to KOSDAQ and KONEX. The official expressed concern that insufficient liquidity will further reduce the number of listed companies, perpetuating a vicious cycle where capital does not circulate.
FAQ
What is the current market capitalization of the KONEX stock market?
The KONEX market capitalization stood at 3.2919 trillion won as of the 24th, according to Korea Exchange data released on the 26th. This represents a decline of more than half from the 7 trillion won level reached during 2018-2019.
How much has daily trading volume declined on KONEX?
Daily average trading volume on KONEX reached 628.85 million won this month through the 24th, a 6.8% decline from the previous month. This marks the first time since December 2014 that the monthly average daily trading volume has fallen below 700 million won, despite the current market cap being 2.3 times larger than in December 2014.
