Korea is expanding the capital available to support private-market investment and exits. In April 2026, the government announced the selection of three secondary funds targeting a combined KRW 140 billion, designed to acquire existing investors’ stakes and provide additional routes to liquidity. Government announcement

Institutional support is also broadening. In July, the National Pension Service selected six domestic venture-fund managers for allocations of up to KRW 400 billion. This is a broader venture allocation, rather than a dedicated secondary programme, but it demonstrates continued institutional commitment to the ecosystem. NPS announcement

More capital does not mean immediate liquidity.

At an October parliamentary hearing, Korea Venture Investment acknowledged delays in forming some secondary and M&A funds. Lawmakers highlighted approximately KRW 30 trillion of venture funds approaching maturity between 2026 and 2028—underscoring the continuing need for exit channels. Newspim, 15 October 2026

The LASQUAD view

We believe a deeper pool of buyers can improve price discovery and, over time, reduce liquidity-driven discounts. That process is likely to be uneven across companies and transactions.

For investors, the relevant question is what explains a particular price: business performance, a seller’s need for liquidity, shareholder rights or restrictions on transfer. Korea’s secondary market is still developing, and understanding those differences remains central to evaluating an opportunity.