According to CoinMeta, South Korea's top financial regulator announced the introduction of a cornerstone investor system for initial public offerings (IPOs) to curb significant drops in stock prices after new shares are listed. Under the new system, which was approved by the government on Tuesday, institutional investors who commit to holding shares for at least six months will be allowed to receive stock allocations in advance. The relevant rules will take effect on November 13 and will be implemented simultaneously with amendments to the Capital Market Act. The Financial Services Commission of South Korea stated that introducing stable institutional buyers with longer investment periods will help enhance investors' confidence in IPO and alleviate the "IPO pricing" issue, which refers to the situation where holders rush to sell their shares after they are listed, leading to substantial price declines.