The second-half IPO pipeline from South Korea is packed with heavyweights including game powerhouse Krafton, global EV battery No.2 LG Energy Solution and financial units of Korea’s fast-sprawling Kakao, to name a few.

Krafton Inc., label behind popular shooting game PlayerUnknown’s Battlegrounds, on Friday received the nod for its IPO in the Kospi market from stock exchange operator Korea Exchange (KRX).

Analysts estimate Krafton’s enterprise value to reach up to 30 trillion won ($26.8 billion) after listing.

It also would be the last to benefit from the country’s IPO rule that allows public subscription at multiple brokerage houses if it files a stock registration statement with KRX within this week. In this case, Krafton could set a new record in subscription.

Krafton’s IPO would be followed by Kakao Bank and Kakao Pay, respectively internet-only lending unit and mobile payment platform affiliate of Korea’s dominant chat app operator Kakao Corp.

Kakao Bank filed for preliminary IPO review on April 15 and Kakao Pay on April 26 for listing in the main Kospi bourse. The results are expected to be made soon since a reviewing process typically takes up to 45 business days.

Analysts estimate the enterprise value of Kakao Bank at 40 trillion won and Kakao Pay at 16 trillion won. Kakao Bank’s market cap already nears 40 trillion won based on the over-the-counter trading price, which makes it more valuable than KB Financial Group, Korea’s No. 1 finance firm with a market cap of 23.3 trillion won.

Hyundai Heavy Industries Co., a shipbuilding unit of the country’s largest shipyard Korea Shipbuilding & Offshore Engineering Co. will likely make a bulky debut on the Kospi. The firm filed for fast-track preliminary IPO review on May 6 that would allow it join the Kospi as early as next month. It plans to use proceeds from the IPO to develop hydrogen fuel carriers.

Hanwha General Chemical Co., a unit of chemical to defense conglomerate Hanwha Group, kicked off the process for IPO on the Kospi early this month. The company’s worth is estimated at between 4 trillion won and 5 trillion won. It was a unit of Samsung Group but sold to Hanwha in 2015.

LG Energy Solution Ltd., an EV battery maker spun off from LG Chem Ltd. in December last year, is a strong candidate to rewrite Korean IPO history. Its enterprise value is estimated to reach up to 100 trillion won, which would place it on par with memory giant SK hynix Inc., currently standing No. 2 in the Kospi based on market cap.

The EV battery maker filed for a preliminary IPO review on June 8 with an aim to join the Kospi this year.

“Companies will likely rush with IPOs while the market environment is favorable,” said Lee Seung-woo, an analyst at DB Financial Investment.

A total of 37 firms filed for a preliminary IPO review alone in April and May, according to Na Seung-doo of SK Securities.

By Pulse

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