Seoul: Alteogen Inc., the No.1 market cap company on the secondary KOSDAQ market, announced its decision to transition to the country's main bourse to create stable funding and enhance its corporate value. The decision was ratified by shareholders who approved the proposal to move to the KOSPI market earlier in the day.

According to Yonhap News Agency, after delisting from the KOSDAQ market, Alteogen plans to submit an application for KOSPI listing and aims to be listed within the next year. Established in 2008, Alteogen has developed a pipeline that includes next-generation biobetters.

Alteogen's market value is approximately 24.9 trillion won (US$17 billion), positioning the company to potentially be included in the top 30 market cap list of the KOSPI market.