South Korea Exchange Tightens Rules on Special-Case Listed Firms, Blocks Crypto Treasury Path

According to Digital Asset, South Korea Exchange (KRX) recently tightened rules on special-case listed companies, requiring those that shift main business to digital assets within 5 years to undergo delisting review. The new rules specifically target firms—such as biotech companies—that used technology exemptions to list on Kosdaq and subsequently pivoted to crypto treasury or digital asset investment operations.

KRX stated that such business changes mean the original technological strength and growth potential no longer hold, triggering mandatory delisting scrutiny. Additionally, special-case listed firms must now publicly disclose value-enhancement plans during their exemption period to protect investor rights.