Korea's First Korea Independent Research Association Launched... Birth of a Private-Led Research Association

The Korea Independent Research Association (KIRA), established to resolve information asymmetry in the domestic stock market and provide objective investment information, was officially launched on January 2. This is the first private-led research association in Korea, comprised of independent research firms.

The Korea Independent Research Association elected Lee Choongheon, CEO of ValueFinder, as its inaugural president. Independent research firms GL Research and Aris have joined as founding member companies.

President Lee stated, "The Korea Independent Research Association, together with its member companies, will focus on raising awareness of small and mid-cap companies listed on KOSPI and KOSDAQ that are not well known to the market."

He added, "Although the government and financial authorities are promoting measures to revitalize KOSDAQ, this alone will not bring vitality to small and mid-cap stocks. We will take the lead in discovering and promoting promising small and mid-cap listed companies."

Recently, as financial authorities have tightened delisting requirements for KOSDAQ and securities firms have reduced small-cap research, the gap in identifying undervalued small and mid-cap stocks has widened. Industry insiders expect the Korea Independent Research Association to play a key role in discovering companies.

President Lee also said, "If the independent research industry grows and gains market trust, our goal is to propose policies to support small and mid-cap listed companies to the government and financial authorities, including mandatory IR. We will also expand our work for individual investors and listed companies," he added.