A South Korea flag is displayed against skyscrapers and businesses in Gangnam-gu, Seoul. Ann Hermes | Christian Science Monitor | Getty Images South Korea's equity IPO activity has plummeted this year as efforts to boost corporate valuations run into trouble around governance reforms and the high amount Chaebols, or family-run conglomerates. South Korea saw 15 new listings in the year to June 3, with proceeds totaling around $700 million, according to LSEG data.