South Korea contributed the year’s largest IPO in January, EV battery maker LG Energy Solution, and then largely went dormant. Since then, just two Korean deals have raised at least $100 million, both of which priced in July: power plant services provider Soosan Industries and battery recycling company SungEel HiTech. Along with much of the rest of the world, Korea’s IPO market closed this year amid an uptick in inflation, rising interest rates, a reset in tech valuations, fears of a recession, and market volatility from various sources (e.g. the war in Ukraine).
However, after months of delayed and withdrawn deals, there are signs that the country’s stormy IPO market may be clearing up heading into the fall.
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