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Headquarters of Superior Essex (SPSX), LS Group’s U.S. Cable Company, in Atlanta, Georgia, USA. (Photo: LS Group) |
[Alpha Biz= Kim Jisun] Concerns are growing that LS Group’s plan to list its subsidiary Essex Solutions (Essex) on the Korea Exchange (KRX) could conflict with the government’s stock market promotion agenda. Market observers warn that if Essex passes the KRX’s preliminary review for listing on the main board, the controversial practice of dual listings—which had quieted following last year’s amendment to the Commercial Act—may resurface. Analysts note that the listing decision could pose a challenge to the government’s goal of a KOSPI 5000 index.
According to the Korea Exchange, Essex submitted its preliminary review application for the main board in November 2025. Founded in 1930 in the United States, Essex was acquired by LS Group in 2008 for roughly 1 trillion KRW.
LS currently controls Essex through a chain of subsidiaries: LS holds 95.1% of LS I&D, which fully owns Superior Essex (SPSX), which in turn holds 79.0% of Essex. If Essex becomes listed, both LS and Essex would be publicly traded along the same ownership line, creating a classic case of dual listing, according to market analysts.
For domestic companies, the Korea Exchange conducts a preliminary review over 45 business days, while foreign companies undergo a 65-business-day review. As a U.S.-based company, Essex’s review results are expected to be notified to LS by February 10, 2026.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
