A certain South Korean CEX postponed its IPO until after 2028, due to internal preparations and regulatory factors

Gate News reports that on April 1, a certain South Korean crypto exchange announced that it would delay its IPO timeline until after 2028, further postponing its previous target of going public as early as the second half of 2025. The exchange stated that it is still in the preparation stage for listing, focusing on refining accounting policies, strengthening internal controls, and advancing internal audits. It has already signed an advisory agreement with Samjong KPMG through the end of 2027, and expects to complete the IPO afterward. Although the exchange achieved approximately $43.0 billion in revenue in 2025 (KRW 651.0 billion) and increased its market share to over 30%, a series of recent internal and regulatory issues have put pressure on the IPO process. These include an incident involving an operational mistake: during a promotional event, the platform mistakenly distributed about 620,000 bitcoins (worth approximately $43.0 billion at the time). Although most of the funds have been recovered, this triggered an investigation by South Korea’s financial regulators.