South Korea's IPO Market Plunges 59% in H1 2026 as Dual-Listing Restrictions Bite

According to Shinhan Securities analyst Oh Kwang-young, South Korea's IPO market saw sharply lower activity in the first half of 2026, with only 17 companies listed on July 26—a 59% decline versus the 10-year average of 27 IPOs per half-year. Fundraising totaled 1.1 trillion won, down 48.7% year-over-year and 30% below the 2016-onwards average of 1.6 trillion won, excluding 2021–2022.

The slowdown stems from regulatory changes, including restrictions on dual listings, combined with weak post-listing stock performance. However, Shinhan expects a rebound in H2 2026 as new government guidelines take effect and large subsidiary listings resume; the analyst projects 64–68 IPOs for the full year, slightly above the 2011–2020 average of 63.