 |
Jeon In-seok, CEO of Samchundang Pharm (Photo courtesy of Yonhap News Agency) |
[Alpha Biz= Kim Jisun] Samchundang Pharm has been designated as an unfaithful disclosure firm by the Korea Exchange, receiving penalty points for disclosure violations.
According to the Financial Supervisory Service’s electronic disclosure system on April 20, the KOSDAQ Market Division of the Korea Exchange imposed five penalty points on the company for failing to properly disclose information.
The designation follows a prior notice issued on March 31, when the exchange announced its intention to classify the company as an unfaithful disclosure entity due to its failure to release required fair disclosures related to business performance outlooks or forecasts.
Under KOSDAQ regulations, companies receiving eight or more penalty points from a single case may face a one-day trading suspension. Additionally, if cumulative penalty points exceed 15 within a one-year period, the company may be subject to a substantive review of its listing eligibility.
The designation is expected to raise concerns over disclosure transparency and investor confidence.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
