KRX 2013-23 코넥스 시장의 이해 코넥스 시장의 이해 COPYRIGHTS 2013. KRX. All righs Reserved. www.krx.co.kr

Introduction

99%, 88%., 99%, 1%.. 2013 7 1. (risk capital).... 2013 9 /

Contents

. 1.? 8 2. 8 3. 9 4. 10 5. 11 6. 12. 1. 14 2. 16 3. 19 4. 21 5. 22 6. 26 7. 26. 1. 28 2. 28 3. 34. 1. 38 2. 38 3. 40 4. 43 5. 44 6. 45 7. / 46 8. (LP) 47 9. 49 10. 50 11. 50 Q & A 52 72

Overview 1.? 2. 3. 4. 5. 6.

8 Overview. 1.? (KONEX, Korea New Exchange). 2011,, TF,, 2 2013 7 1..,. 2., ().,. (%) () 2011 83.3 10.6 0.9 1.1 3.2 0.4 0.6

9 Overview.. 2004 9.3, 2011 12.3..,. 3.,.,,.., ( )., ( )., M&A. M&A, M&A ( ).

10 Overview. 4.,..,.,.,., IPO, M&A IB.,.

11 Overview 5.. ( ) (AIM) (TSX-Venture) (Catalist) (GEM) (Tokyo Pro Market) (), OTC BB(Over-the-counter Bulletin Board, ), Pink Sheet(), AIM*(Alternative Investment Market) * EU (MiFID) (, ) (exchange-regulated market) (TSX-Venture) (TSX) (TSX-V TSX) (Sponsor) (HKEx) 09 Tokyo-AIM

12 Overview. 6.. 1. (6429 ) (2.23) (6.21) (7.2) 2. (6.21) K-IFRS 3. (7.2) 1. * * ) (0.3%) ) 2. ( 2 ) (6.28) 1. ( 20% ) 2. M&A * *, (6.21)

Listing Ⅱ. 코넥스시장 상장제도 1. 상장제도 개요 2. 코넥스시장 상장기업 현황 3. 상장요건 4. 상장방법 5. 상장절차 6. 보호예수의무 및 수수료 면제 7. 상장폐지

14 Listing. 1.. (1). ('13. 9 11) 1,.,,,..

15 Listing (2) 3 15 ( ). (3) (K-IFRS) (2013 11 ). (4)..,.

16 Listing. 2. ( 2013. 9 ) 21, '13. 8 1, '13. 9 2 24. (1) (5 ) (4 ) (3 ), (2 ),,. (2) 582 33, 1,227 1. 44 16. 100 100 ~ 200 200 ~ 300 300 ~ 500 500 ( ) 3 9 7 3 2 24 100 100 ~ 200 200 ~ 300 300 ~ 500 1,000 ( ) 2 10 7 3 2 24 10 10 ~ 20 20 ~ 30 30 ( ) 1 9 9 2 3 24

17 Listing (3) 24 20, 19 1. & 16 4 3 1 24 1) ( ) : 2) ( ) : 3 (4) 2012 22 42.3%, 55.3%, 22.5%. (a) (b) (a/b) 109 243 44% 220 519 42% 273 517 52% 13 60 21% ('13. 9 ) () (, ) ( ) () (LCD In-Line System ) ( ) 2012 (: ) 28,937 58,159 119,336 3,542 HMC 11,470 17,926 15,018 1,093 12,377 25,486 28,955 1,181 KB 13,056 30,581 38,029 271 7,756 23,590 18,608 451

18 Listing. () (, ), ( ) (SI, ) (, ) (FPD ) ( ) ( ) ( ) (,, ) ( ) ( ) ( ) (, ) ( ) ( ) ( ) (, ) () ( ) 2012 (: ) 6,008 12,591 16,828 527 KB 3,241 10,014 29,081 766 13,620 53,524 122,726 4,446 IBK 12,507 22,202 17,512 2,893 11,376 25,737 24,356 333 IBK 7,136 7,655 2,422 347 9,761 12,063 10,305 1,704 10,534 20,043 14,716 3,113 KB 2,363 3,263 107 1,575 6,022 13,518 16,498 862 IBK 10,660 29,374 20,095 345 IBK 12,237 33,778 30,705 1,236 16,039 24,638 21,864 1,084 9,221 12,988 11,607 1,587 7,775 18,275 30,012 1,598 4,916 6,305 11,260 2,603 14,290 15,256 10,070 1,800 18,702 32,673 20,145 1,153 10,572 19,155 25,471 688 IBK

19 Listing 3. (1), (, ).,. 10 5 3 *, ( ) *, 3 100, 200, 500, 1,000, 2,500, 5,000 4 1 1,000 2013 11

20 Listing. (2) ( ),,,.,. -,, - - - - - (,, ) -

21 Listing 4.., 50 ( ). ( ) D D+1~60 D+89,90 D+92 D+98 D+102 D D+15 D+105

22 Listing. 5. (1),,, (VC) 1. * ( 11, 13. 9 ),,,,,,,, HMC, IBK, KB. *,,,,,.

23 Listing. *,. - - - (,, ) - (D/D) - - ( ) - - + - (D/D) - - ( ) - - - - (2, 1 ) - - - - - - (, ) - ( 1 )

24 Listing. (2).. (K-IFRS)., 2012 *. * 2013 * ) 100, ) 70, ) 70 300, ) * 4 2 (3),, (Due Diligence).,.

25 Listing (4),. * 1 3 (5).,.,. (6).,, ( ).,.

26 Listing. 6. M&A, (exit) (VC). 2. 7.,.,, / (, ) 30 2, 3 4 ( 15 ),,

Disclosure 1. 2. 3.

28 Disclosure. 1.,. (64 29).,.,. (1 ).. 2. (1).,,.

29 Disclosure,. (64 29) ( : - 10% 20% ) 1. - IFRS K-GAAP K-IFRS. (, /, / )

30 Disclosure. / / //,, ( ) (). / ( ) / /// /// / / ( ) ( )

31 Disclosure (2).. / / / /,,,,, /

32 Disclosure. (3)...,, (),,.,., 6.

33 Disclosure (4). -,, - -, - -, - 2% - - 2% -,,. ( 1% 2%).

34 Disclosure. 3. (1).. -, () - ( 20%), ( 20%) (, ) () - 30-30 - 30 - - 1

35 Disclosure (2),.,,,.,, O O X.., *. *,,,

36 Disclosure. (3),,,.., 2 3 4.

Trading 1. 2. 3. 4. 5. 6. 7. / 8. (LP) 9. 10. 11.

38 Trading. 1..,,,,. ( /). * (LSE/AIM) (TSX/TSX-Venture), (HKEx/GEM), (SGX/Catalist).,.,, (LP). (Buy & Hold),,.. 2.,. ().

39 Trading 30., ().,, ( ) 50,000, 500., 10.. vs (30 ) () ( ) / / ( ) (09:00 ~ 14:50)

40 Trading. 3. (1) ( ),. (1 ),,. (2),,,, ( )..,..,., M&A. M&A.

41 Trading (3) () 2% 1( ) () () ( 15%) * ** (16:00) ***, * (). **.. *** K-Blox, 1 1. 2 K-Blox.

42 Trading. (4) (07:30 ~ 08:30) 08:30..,.. () : 10,000, 10,000 ( 10,000 ), 11,000 3,000 / 2,000 (5,000 ) 10,500 3,000 (3,000 ) 10,300 4,000 (2,000 )* 10,000 3,000 * 10,300 4,000, 10,000 10,300. (5). * * 1,,,, (, )

43 Trading 4. ( ).,., 6, (100 ) 4. ( ) 1 100 (100 ) 10 (1,000 ) 2 500 (500 ) 50 (5,000 ) 3 1,000 (1,000 ) 1/2 4 2,000 (2,000 ) 5 1/2 6

44 Trading. 5. 3,..,. 61 ( ) 13,. ELW 1) ELW 2) /ELW /ELW /ELW /ELW / / - - X - X - X 1) 3. 2) ELW ELW 1,500.

45 Trading 6.,... 6. 6 [50 ( ) 5% ], 2. 3( ) 2 (VC ) ( 10% ). 2,., 1( ) 300%, 1 ~2 200%, 2 ~3 100%.., ( ).. (-). 90% ~ 200% (50 ) 90% ~ 200% 90% ~ 200% ( ~ ) 90% ~ 400% ~ 90% ~ 400%

46 Trading. 7. /, (100 ). 15:00 ~ 15:30 15:10 ~ 15:30 1, M&A.. (09 ~15 ) ( K-Blox ) 1 1

47 Trading 8. (LP) (1) (Liquidity Provider, LP)., LP. LP LP. LP. (2) LP LP, 1. LP - ( 1 ) -

48 Trading. (3) LP (14:00) LP 10 (2 10 ) LP., 14:10 LP, 14:10 LP. LP LP 100. LP / 6%, (LP - LP)/LP. LP LP/ LP, / 6%., LP / LP LP. (4) LP LP,. 1% 0.5% 1 5 3 ( ) 40% ()

49 Trading (5) LP LP. 712 * ( ) * ( ) 24. * * 10% * 10%,. 199 * 3 * 3. 9..,.. 100. 100. TSX Venture AIM Tokyo Pro Market GEM Catalist : 1,000 : 100 ~ 40,000 ( )

50 Trading. 10. 6(,,,,, ), / 2.. 11., 60 ~ 80%. 60%..

KONEX Q & A

52 Q&A Q1.? ( )..,,,,,,,, HMC, IBK, KB,,, (due diligence),.,. Q2.?,., (IR) (LP).

53 Q&A Q&A,,.,. Q3.,,?., 50.

54 Q&A ( ) Q4.?.,. Q5.?...

55 Q&A Q&A Q6.?...,..,.,....,. * 1 300 : (, ) 1/2 ( ) 1,000 : * (10%)

56 Q&A Q7.?.,,. (K-IFRS) (, 13. 11 ).. Q8.?. 2013 7 1 (2012 )., (2013 ) (2014 3 ).

57 Q&A Q&A Q9.? 2014 3., 2. 10. Q10.?....

58 Q&A Q11., M&A?.. Q12.?,.,,..

59 Q&A Q&A Q1.? KIND(kind.krx.co.kr) (www.krx. co.kr). KIND " ", "",.. "/" "". Q2.,? (,, ).,..,.,.,.

60 Q&A Q3., ( 50% )? () 50%, 10.. 30( 15).. ( 5, 10 3)... Q4.?.,. 30,.,.,.

61 Q&A Q&A Q5.?., 15. 2 15,.,,,,.. Q6.?,..., ( ).,,.

62 Q&A Q7.?., 1 ( 45 ). Q8.?. IR. IR IR.,.

63 Q&A Q&A Q1.?, -.,,,. ( 3 ). Q2.. +. 2 3. +,.,,.

64 Q&A Q3.?,.,. (). (KVF) Q4.?,. HTS.

65 Q&A Q&A Q5., 3?,.,,,., 3. Q6.?. 3 1, 2 1. 1 60% 6, 2 + 6 2 6., 4.

66 Q&A Q7. 3?., 3. Q8.?., K-Blox. Q9.? 7 30 8 30... 2.

67 Q&A Q&A Q10.,?, ( ).. () (). Q11.?.,, (30 ) ( 15%).,.

68 Q&A Q1.?,.,,. ( ) (, ) ( ) ( ) ( ) ( ) ( )

69 Q&A Q&A Q2. 3,? () ( : ).,, 3. Q3.,,?,,., (2 ). (2 ).

70 Q&A Q4.?,,., ( 100 ). 6, 17, 6 18.. Q5.?. 0.3%,.,. 100 4 40, 100 4 10.

KONEX ( )

72 Contract ( ) ( ) ( ) ( ). 1 () ( ) 4. 2 (). 3 () 1.,, 1. 1 1. 4 ( ). 1. 2., 3.

73 Contract. 1. 2. 3. ( ) 18 4. ( ) 5. 6., ( ), 5 ( ).,,,, (, ),.,. 1.,,, 2. 3. ( ) 4. ( ), 5. 6. 7. 8., 9.,.

74 Contract.,,,. 1 6. 6 ( ) 2.. % 1 2. 1. 2% ( ) 1.5% ( ) 2... 10.

75 Contract 1. 2. 3. 6.. 7 ( ),. 23. 8 ( ) 41 ( ). 42 3 ( ).,. 1 2,,.,. 9 ( ) 3 2..

76 Contract 1. 2. 3., 4. 5. 6.. 10 (),,. 11 ().,., 3. 12 ( ),.

77 Contract 13 ( ) ( ). 14 ( ).,.,,. 2, 1. 20 : : : ( ) : : : ( )

KONEX 2013 10 02-3774-8611~5 http://www.krx.co.kr http://kind.krx.co.kr ( )DPA(02-2266-7213).