Big-ticket IPOs set to test Korea's market rally

South Korea's initial public offering market lagged the broader stock rally in the first half.

But a pipeline of multitrillion-won listings in the second half could test whether investor enthusiasm finally spreads beyond large-cap technology stocks.

Only 17 companies were listed on the Kospi and Kosdaq in the first six months, down from 38 a year earlier, according to market data.

Total proceeds fell nearly in half to 1.13 trillion won ($730.8 million) from 2.21 trillion won.

The slowdown was pa