The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookiesbefore using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Korea the latest boom market for IPOs

Krafton’s forthcoming record-breaking listing is just one example of a new economy deal that is propelling primary issuance volumes in South Korea. Just wait until the chaebol join the party with their own spin-offs and EV battery deals.

Photo: iStock

Asian ECM bankers have a new hive of activity to focus on: South Korea.

The country’s largest ever IPO, worth close to $5 billion potentially, is under way right now for video game developer Krafton.

And that is just part of what could become a record year for Korean listings. So far in 2021, more than 40 issuers have raised around W5.6 trillion ($4.9 billion) in the IPO market – which also happens to be the amount Krafton is hoping to raise in a single deal.

“By the end of this year, the new IPO pipeline could raise more than W30 trillion,” says one banker in Seoul, who adds that the annual record, dating back to 2010, is W10.1 trillion.

That year, the IPO Samsung Life set the current domestic record; another Korean issuer, Coupang, raised $4.6 billion in an IPO on the New York Stock Exchange in March this year.

Why? A large part of the reason is the momentum in Korea’s new economy. Krafton, which is best known for its mobile game PlayerUnknown’s Battlegrounds (PUBG), is one example, but far from the only one.


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?