Korea Corporation "We Will Achieve Resumption of Transactions... Will Conduct Reaudit Promptly"
[Asia Economy Reporter Geum Bo-ryeong] Korea Corporation emphasized its position to resume trading.
Korea Corporation announced that it held the 29th regular general shareholders' meeting on the morning of the 31st at its headquarters in Jung-gu, Seoul.
At this shareholders' meeting, five agenda items were approved as originally proposed: approval of the financial statements, amendment of the articles of incorporation, appointment of auditors, approval of the limit on directors' remuneration, and approval of the limit on auditors' remuneration. The consolidated sales for the previous year were announced to be approximately 121.5 billion KRW.
Regarding the suspension of trading due to the auditor's disclaimer of opinion, the company stated its intention to file objections, be granted an improvement period, and proceed with re-audit to normalize the situation.
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Sung Sang-yoon, CEO of Korea Corporation, said, "We plan to submit the objection documents regarding the auditor's disclaimer of opinion to the Korea Exchange within the deadline," adding, "We will do our best to receive an improvement period order, promptly pass the re-audit, and resume trading."
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