KONEX trading value falls for third consecutive month

The KONEX market's average daily trading value dropped 21.1% to 450 million won in October, marking the third straight monthly decline. While market capitalization rose 1.3% to 3.5302 trillion won, average daily trading volume fell 46.5% from the previous month.

The KONEX market in October saw continued movement regarding new listings and transfers to KOSDAQ, but it failed to escape a period of sluggish trading. Although market capitalization increased, overall market vitality remained limited as average stock prices per company and trading indicators declined.

According to the Korea Exchange, the KONEX market capitalization at the end of October stood at 3.5302 trillion won, a 1.3% increase from the previous month (3.4838 trillion won). Conversely, the average stock price per company fell by 4.45% during the same period. Among the 107 total companies, 35 saw price increases, 55 saw decreases, and 17 remained unchanged, with declining stocks being the majority.

The average daily trading volume in October was 169,000 shares, a 46.5% decrease from the previous month (316,000 shares), and the average daily trading value also fell by 21.1% to 450 million won. Notably, trading value has decreased for three consecutive months, following 1.28 billion won in July, 940 million won in August, and 570 million won in September.

In terms of market capitalization, Bon Systems maintained the top position, expanding its market share with an increase of 155.4 billion won in one month to reach 1.1948 trillion won. It was followed by EMT (279.2 billion won), SK Signet (184.5 billion won), Ensol Bioscience (127.1 billion won), and PharmaResearch Bio (122.4 billion won). The rankings for the top five companies remained the same as the previous month.

The highest cumulative trading value in October was recorded by Ensol Bioscience at 1.04 billion won, followed by NovMetaPharma (850 million won), SK Signet (470 million won), EMT (420 million won), and LAT (400 million won). Notably, Jincostech, which held the top spot for trading value in the previous month with 5.92 billion won, concluded its trading on the KONEX market after completing its transfer to KOSDAQ on the 15th.

Regarding individual stock price trends, ITCEN Core recorded the highest increase, rising 30.2% compared to the previous month. LAT (28.8%), Logismon (28.4%), Epibiotech (23.5%), and Taeyang Machinery (20.4%) also appeared among the top gainers. On the other hand, Anymedi Solution (-76.6%), Gaia Corporation (-68.8%), Pandora TV (-53.9%), The Contents On (-45.0%), and Bluetop (-44.9%) saw significant declines.

In terms of investor trading trends, individuals maintained a buying advantage with a net purchase of 910 million won, following a net purchase of 510 million won the previous month. In contrast, institutions shifted from a net purchase of 990 million won the previous month to a net sale of 940 million won in October. The trading proportion by investor was highest for individuals at 89.4%, followed by institutions (8.8%), corporations (1.6%), and foreigners (0.2%).

In contrast to the contraction in trading, fund procurement showed an upward trend. In the KONEX market in October, fund procurement reached 23.5 billion won, a 125.3% increase from the previous month (10.43 billion won). Among companies, Jincostech accounted for 89% of the total fund procurement, raising 21.02 billion won through a general public offering during its transfer to KOSDAQ. LAT (670 million won), Oceans Bio (900 million won), and TechTrans (910 million won) each conducted third-party allotment rights offerings.

Two new KONEX listings in 'K-pop goods and fashion'... trading remains sluggish

In October, K-pop goods distributor Mobi Content Tech and fashion company Eastend were listed sequentially on the KONEX market. However, both companies showed low trading volume following their listings.

Mobi Content Tech was listed on the KONEX market on October 23, and its stock price was formed at 60,000 won as of November 6, up from its evaluation price of 55,000 won at the time of listing. Eastend was listed on October 26 and is trading at 10,630 won, slightly up from its evaluation price of 10,620 won. However, due to low trading volume for both stocks after listing, actual trading remained at a limited level.

Founded in 2023, Mobi Content Tech sells albums and related goods overseas through its K-pop commerce platform 'KOCODIVE'. Mobidays, a KOSDAQ-listed company, is the major shareholder holding a 66.96% stake. In 2025, the company recorded 28.5 billion won in revenue, with an operating profit and net profit of 400 million won each.

Eastend is a fashion company founded in 2016 that deals in clothing, fashion accessories, and cosmetics. Last year, it recorded revenue of 26.8 billion won but reported an operating loss of 8.9 billion won and a net loss of 9.3 billion won.

Cumulative 103 companies transferred from KONEX to KOSDAQ... demand for consulting increases

With Jincostech completing its transfer to KOSDAQ in October, the cumulative number of companies that have transferred from the KONEX market to KOSDAQ since the opening of the KONEX market has risen to 103. While recent transfer performance has decreased compared to the past, consulting demand from KONEX companies preparing for KOSDAQ entry is increasing.

The cosmetics ODM (Original Design Manufacturer) company Jincostech transferred to the KOSDAQ market on the 15th of last month. This comes approximately seven years after it listed on the KONEX market in 2019. Jincostech develops and produces mask packs and eye patches using hydrogel materials, and through this transfer, it secured approximately 20 billion won in public offering funds.

Jincostech plans to use the secured funds to construct a third production facility, secure raw and auxiliary materials, and conduct research and development for new products. The company intends to strengthen its business foundation through expanded production capacity and product development.

The KONEX market was established to support the fund procurement and growth of early-stage and small-to-medium enterprises, and transferring to KOSDAQ is one of its major growth paths. However, recent transfer performance has been on a downward trend. While 12 to 13 companies transferred to KOSDAQ annually from 2018 to 2021, this decreased to single digits starting in 2022, and only 4 companies transferred last year. This year, as of the end of October, only one company, Jincostech, has completed its transfer.

Conversely, demand for support from companies preparing for KOSDAQ transfers is rising. The number of companies receiving transfer consulting from the Korea Exchange increased from 5 companies in 2024 to 6 companies in 2025, and to 8 companies in 2026. It is reported that the number of companies applying for consulting this year has exceeded 10.

Since 2022, the Korea Exchange has been operating transfer consulting for KONEX companies. The process involves checking whether KOSDAQ listing requirements are met, assessing management transparency and business continuity, and providing guidance on matters to be supplemented during the listing examination process. As of July this year, a cumulative 31 companies have received consulting, 8 of which have successfully transferred to KOSDAQ.

While Jincostech's transfer reaffirms the role of the KONEX market as a growth ladder, recent transfer performance remains at a limited level. A remaining challenge is connecting the demand from companies preparing for KOSDAQ entry into actual transfer results.

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