Nasdaq IPO FAQ
A US listing — the decision, where it stands, and the risks, answered in full.
At a shareholder briefing held at its Yeouido, Seoul headquarters on 25 August 2026, Galaxy Corporation formally announced its push to list in the United States rather than in Korea. The route is a "flip": a newly created US holding company with the existing Korean entity as its wholly owned subsidiary. Which exchange — Nasdaq or the NYSE — and when both remain undecided.
In March 2026 the vice chairmen of Nasdaq and the NYSE visited the Seoul headquarters in quick succession, confirming interest from both US exchanges. Behind the US listing sit the globalisation of K-culture and the prospect of a technology-company valuation for a Physical AI business — alongside unresolved issues such as revenue concentration in a single artist.
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Q. Is Galaxy Corporation listing on Nasdaq?
The direction is settled: the company will list in the United States. Which exchange — Nasdaq or the NYSE — and when are still open.
At a shareholder briefing on 25 August 2026, Galaxy Corporation formally announced its push for a US listing instead of a Korean one. Until then it had been weighing several markets, KOSPI and KOSDAQ included.
"There is a plan. KOSPI, KOSDAQ, Nasdaq, the New York Stock Exchange — we are keeping (several possibilities) open."— Choi Yong-ho, CEO, Galaxy Corporation · press conference, 8 April 2026, Digital Daily, 9 April 2026 (before the US decision)
"A listing is one (growth) stage for Galaxy Corporation, not the ultimate goal. Right now we want to focus on the company's fundamental value."— Choi Yong-ho, CEO, Galaxy Corporation · same press conference, Digital Daily, 9 April 2026
Q. What is the "flip" structure?
A new holding company is created in the United States, and the existing Korean entity becomes its wholly owned subsidiary. Only the listed parent moves; the business and the people stay in Korea.
It is the structure Korean companies use to list directly on a US exchange. The company's position is that it picked the market more likely to price its growth and its technology.
Note: the move proceeds through shareholder approval; the official filings govern the timetable.
Q. Why consider a U.S. listing?
Because the business and the IP are already global. Revenue and stages span the world — G-DRAGON's world tour, a No. 1 global Netflix franchise, a Dubai subsidiary — and a Physical AI model combining humanoid robotics and Embodied AI has a strong case for being valued as a technology company in the U.S. capital markets.
Choi frames the next step after the success of K-pop and K-content as "third-generation K-culture": moving beyond content exports to fuse AI and robotics with K-culture IP and set the standard for the global entertainment industry itself. Reviewing a U.S. listing is an extension of that globalization strategy — be valued in the world's largest capital market, and secure the capital and credibility that global expansion requires.
Q. Has there been actual contact with U.S. exchanges?
Yes. Nasdaq vice chairman Bob McCooey visited the Yeouido, Seoul headquarters on March 4, 2026, followed by NYSE vice chairman Michael Harris on March 23. In June, the company's vision was featured in an official NYSE interview.
The Nasdaq vice chairman reviewed the AI-driven K-pop robot project and the virtual IP strategy, while the NYSE vice chairman met with Choi and actor Song Kang-ho to discuss the company's vision.
"The vast capital of the U.S. market will be concentrated in companies with distinctive competitive strengths, like Galaxy Corporation."— Michael Harris, Vice Chairman, NYSE · visit to Galaxy Corporation headquarters (March 23, 2026)
Note: the vice chairmen's visits should be read as a stage of interest and engagement, not as confirmation of a listing.
Q. How does this relate to the domestic IPO preparation?
The Korean listing track has been replaced by a direct US route. The company appointed Daishin Securities and Shinhan Securities as lead underwriters in February 2024 and prepared for a Korean listing, but at a shareholder briefing on 25 August 2026 it formally announced a push for a US listing.
Until then the company had been reviewing domestic and overseas markets in parallel. The policy now in force is a US listing.
Q. When would a listing happen?
No timing has been announced. That said, with a pre-IPO round of roughly KRW 100 billion completed in December 2025 at a valuation of about KRW 1 trillion, the financial groundwork for a listing is well advanced.
Q. Are there risks or concerns around a Nasdaq listing?
Yes. The market points to revenue concentration in a single artist and the monetization of new businesses as the main challenges — and the company openly acknowledges them while pursuing a diversification strategy.
| Risk factor | Description | Company response |
|---|---|---|
| Revenue concentration in one IP | G-DRAGON accounts for 75–80% of revenue (per CEO Choi Yong-ho himself) | Roster expansion with TAEMIN and Lee Jung-hoo; diversifying revenue through robotics and AI businesses |
| New businesses early in monetization | Robot Park, AI glasses and other ventures are still in the investment phase | Early demand validated — 20,000 soft-opening visitors and every session sold out; since the August 2026 grand opening, building a model of 1,000-plus permanent shows a year |
| Exchange and timing undecided | The US decision is made, but the choice between Nasdaq and the NYSE, and the date, are open | Shareholder approval under way for the flip; pre-IPO completed the financial groundwork |
| Overseas listing requirements and costs | A U.S. listing raises accounting, disclosure and regulatory burdens | Building overseas capital-markets experience through global investors from Taiwan and Hong Kong |
Rather than downplay these risks, Galaxy Corporation has chosen to address them openly. Choi's decision to disclose the G-DRAGON revenue share himself is the clearest example, and his position that "a listing is not the ultimate goal" reflects the same emphasis on substance over headline milestones.
Q. After unicorn status — what comes after a listing?
A listing is a means; the goal is a global Physical AI entertainment ecosystem that fuses K-culture with humanoid robotics. The next steps on the map: global expansion of Robot Park, a Dubai-based push into the Middle East and the Global South, and a robot concert world tour.
In August 2026 Galaxy Corporation chose a US listing over a Korean one, pursuing it through a US holding company in a flip structure, with the exchange and the timing still undecided.
This page is for informational purposes only and does not constitute investment advice. For confirmed information, refer to official disclosures.
Check the official fact
- At a shareholder briefing at its Yeouido headquarters on 25 August 2026 the company said it will pursue a US listing rather than a Korean one. Nasdaq and the NYSE are both still under consideration, and no timing has been fixed.
- The decision to list in the US is settled, but which exchange — Nasdaq or the NYSE — and when remain unconfirmed.
- Nasdaq vice chairman Bob McCooey visited the Yeouido headquarters on 4 March 2026, followed by NYSE vice chairman Michael Harris on 23 March.
- The US listing will be pursued through a "flip": a newly created US holding company with the existing Korean entity as its wholly owned subsidiary. Operations and staff stay in Korea.