Regulator seeks to ban 'split listing' from July

The country's financial regulator said Thursday that it will take necessary steps to ban "split listing" by conglomerates here from July at the earliest. Split listing, also referred to as duplicate listing, occurs when a core business division is spun off and listed separately and has long been cited as one of the major reasons behind the so-called Korea Discount, according to the Financial Services Commission (FSC). The regulator noted that the listing practice has long undermined shareholder value, saying it will "in principle" ban the practice. A ban may help improve the market value of certain companies that have already been listed, it argued. FSC Chairman Lee Eog-weon insisted that such a practice should be banned unless it creates "new value" and "equal benefits" for all shareholders. "We will assess how duplicate listing affects shareholders and draw up measures to protect them," he said in a Seoul seminar on duplicate listing. Major battery maker LG Energy Solution's market debut in 2022 had stirred a controversy over the split listing practice. LG Energy Solution was spun off fro

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