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The Korea Exchange received 20 preliminary applications for initial public offerings in April, five times higher than in March.
According to SK Securities analyst Lee So-joong, the sudden increase in applications was due to the sharp decline of confirmed COVID-19 cases and the continued stock index rally in mid-April.
Lee expects more increases in IPO applications in May.
He added that there is an increasing number of companies developing non-face-to-face services that will soon make their market debut.
The internet-only Kakao Bank and South Korea's leading e-commerce company Tmon are also set for listing.
Investors' interest is set to shift to e-commerce and 5G network due to the COVID-19 impact. Traditionally, materials, parts, and equipment sectors are popular with investors.
Among the companies that applied for a preliminary IPO in March include technology firms such as WiPAM, VINA Tech, and Aim Systems.
