The Financial Services Commission’s (FSC) plan to split secondary blourse Kosdaq into two tiers is drawing mixed reactions, with some expecting the structure to enhance market efficiency while others warn it could deepen polarization, industry officials said Friday. Under the proposal presented by the top financial regulator, a tentatively named “premium” segment would include 80 to 170 large-cap firms out of about 1,800 Kosdaq-listed companies, selected based on a range of criteria including market capitalization, profitability and corporate governance. The “standard” segment would comprise typical growth-stage firms. The initiative aims to stabilize and revitalize Kosdaq by fostering top-performing “star” companies and establishing a new benchmark index centered on leading firms in the upper tier. The index would be linked to exchange-traded funds (ETFs), a move intended to broaden investor participation and enhance market liquidity. The system, loosely modeled on Nasdaq’s multitier structure, would allow companies to move between the two segments in a bid to sharpen c