South Korea will introduce a cornerstone investor system for IPOs to curb post-listing selling of new shares

BlockBeats News, November 5: South Korea's financial regulatory body will introduce a cornerstone investor system for initial public offerings (IPOs) to prevent sharp declines in stock prices after new listings. The Financial Services Commission said that under the new system approved by the government on Tuesday, institutional investors who commit to holding shares for at least six months can be allocated shares in advance. The regulations will take effect on November 13 alongside amendments to the Capital Markets Act.