More overseas companies are considering South Korea's KOSDAQ market as mid-sized businesses face limited institutional interest, thin trading volumes and high maintenance costs in the United States. Korea Investment & Securities is leading planned KOSDAQ listings for U.S. biotechnology companies BreezeBio, InnoKras and Pine Tree Therapeutics, which intend to issue Korean Depositary Receipts (KDRs) based on their U.S. shares. Samsung Securities is preparing listings for ExoDiscovery Technologies and cosmetics company Mimibox, while Shinhan Securities is handling BuildBlock, a U.S. real estate investment and development platform. U.S. biotech company Ingenia Therapeutics is also known to have pursued a domestic listing. Nasdaq fees can reach $199,000 a year, compared with 5.89 million Korean won for a KOSDAQ company valued at 1 trillion won, before additional legal and professional costs. The Korea Exchange is reviewing whether overseas companies listed through KDRs should become eligible for indices such as the KOSDAQ 150.