SeoulMarkets · data for licence
Only 86 of 5,084 Korean convertible issues were offered to the public
5,084 filings · 1,296 companies · CB 4,324 · BW 332 · EB 428
A Korean company that wants equity money without selling equity today issues a convertible. We hold 5,084 of those filings across 1,296 companies, with the terms as filed — strike price, strike window, coupon, refix floor. Two things stand out before any of the terms: almost none of it was sold to the public, and more than half of the convertible bonds pay no interest at all.
Who it was sold to
| Placement | Filings | Share |
|---|---|---|
| Private placement | 4,998 | 98.3% |
| Public offering | 86 | 1.7% |
| Not recorded | 0 | 0% |
The “not recorded” row is 0. We print it even when it is zero, so you can see that the two figures above are not standing in for a gap.
2,240 of 4,115 convertible bonds state a coupon of zero
That is 54.4% of the convertible bonds whose filing states a coupon at all. The denominator matters: 4,324 convertible bonds are in the file, and 209 of them do not state a coupon, so they are outside this count rather than counted as zero.
| Convertible bonds in the file | 4,324 |
|---|---|
| Of those, state a coupon | 4,115 |
| Of those, state zero | 2,240 — 54.4% |
| Do not state a coupon | 209 — left out, not read as zero |
The refix floor, and where the column does not apply
A refix clause lets the conversion price fall if the share price falls, which changes how many shares a conversion produces. The floor is the limit on that fall. It is the term retail holders ask about most, and it is not always on the filing.
| Instrument | Filings | Floor recorded | Not applicable | Not recorded |
|---|---|---|---|---|
| Convertible bond | 4,324 | 1,895 | 0 | 2,429 |
| Bond with warrant | 332 | 139 | 0 | 193 |
| Exchangeable bond | 428 | 0 | 428 | 0 |
Read the exchangeable-bond row carefully. All 428 of them sit under “not applicable”, not under “not recorded”. An exchangeable bond is swapped for shares that already exist, so there is no new issue price to reset — the column is not empty, it does not apply. Reporting that as a 0% floor would be false, and reporting it as missing data would be false in a different way.
What is filled in, column by column
| Column | Filled | Of | Share |
|---|---|---|---|
| strike_price_krw | 4,920 | 5,084 | 96.8% |
| strike_ratio_pct | 4,921 | 5,084 | 96.8% |
| total_face_value_krw | 4,913 | 5,084 | 96.6% |
| coupon_rate_pct | 4,838 | 5,084 | 95.2% |
| maturity_date | 4,913 | 5,084 | 96.6% |
| subscription_date | 4,725 | 5,084 | 92.9% |
| payment_date | 4,917 | 5,084 | 96.7% |
We publish fill rates because a data product that hides them is asking you to trust it. Column names carry their unit — total_face_value_krw, coupon_rate_pct — so nothing depends on remembering what a number means.
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How we counted
| Source | DART filings for convertible bonds (CB), bonds with warrants (BW) and exchangeable bonds (EB), collected by us and published as our licensed file. This page counts the same file we sell, so the free figures and the paid figures cannot disagree. |
|---|---|
| Counted from | korea-mezzanine-book-2026-09-11.csv — the same file we license |
| Rows and columns | 5,084 × 20 |
| Built | 2026-09-12 |
| Why the row count is not the line count | Some filed text contains line breaks, so a naive count of file lines gives 5,564 where the answer is 5,084. We parse quoting properly and say so. |
- Not a judgement. A zero coupon or a private placement is a fact about a filing, not a criticism of the company.
- Not a dilution forecast. We publish the terms as filed and never model what a conversion would do.
- Not a complete history. The window is what we have collected.
- Not a signal. Nothing here is a view on any security.
This page reports filings made to the Korean regulator. It is not investment advice, and nothing here is a recommendation to buy or sell any security. Ownership filings · Target-price changes · All data products