Financial Services Commission imposes 1.48 billion KRW fine on CCS Chungbuk Broadcasting
[Asia Economy Reporter Park Jihwan] The Financial Services Commission announced on the 22nd that it has decided to impose a fine on CCS Chungbuk Broadcasting for preparing and disclosing financial statements in violation of accounting standards.
On the same day, the Financial Services Commission held its 22nd meeting and resolved to impose a penalty of approximately 1.483 billion KRW on CCS Chungbuk Broadcasting for false statements of important matters in business reports under the Capital Markets Act.
The company accounted for construction costs as if they had been paid, even though related parties did not actually carry out the construction. It was also found that the company overstated its tangible assets by paying construction costs beyond the normal level.
Hot Picks Today
"Could I Also Receive 370 Billion Won?"... No Limit on 'Stock Manipulation Whistleblower Rewards' Starting the 26th
- Samsung Electronics Labor-Management Reach Agreement, General Strike Postponed... "Deficit-Business Unit Allocation Deferred for One Year"
- "From a 70 Million Won Loss to a 350 Million Won Profit with Samsung and SK hynix"... 'Stock Jackpot' Grandfather Gains Attention
- "Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
Earlier, on the 25th of last month, the Securities and Futures Commission under the Financial Services Commission had decided to take measures such as appointing an auditor for CCS Chungbuk Broadcasting.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
