Unprecedented Growth in Corporate Bond Issuance

This year's first half witnessed a historic surge in corporate bond issuances, with companies raising over 145 trillion won, setting a new record for a half-year period. The majority of these issuances were aimed at refinancing, while facility investment-related issuances hit a five-year low.

Financial Supervisory Service Reports on Direct Financing

According to the "2025 First Half Corporate Direct Financing Performance" report by the Financial Supervisory Service, the total public offering of stocks and corporate bonds reached 149.9324 trillion won, marking an 8.4% increase from the previous year.

Shifts in Stock and Corporate Bond Markets

While stock issuance saw a 16.6% decline to 4.2337 trillion won, corporate bond issuance rose by 8.4% to 145.6986 trillion won. Notably, general corporate bonds experienced a 12.9% year-on-year increase.

IPO and Paid-in Capital Trends

The IPO market also reflected changes, with a 7.5% decrease in scale and a drop in the number of IPOs from 54 to 42. Paid-in capital increases similarly declined by 20.6% year-on-year.