South Korea's equity IPO activity has plummeted this year as efforts to boost corporate valuations run into trouble around governance reforms and the high amount Chaebols, or family-run conglomerates. South Korea saw 15 new listings in the year to June 3, with proceeds totaling around $700 million, according to LSEG data. By comparison, new listings averaged 80 per year between 2020 and 2025, with around $8 billion, the data show. Malaysia's new listings and proceeds almost double South Korea's.