I AM YIYEON Granted Exemption from Penalty for Delayed Business Report Submission

[Asia Economy Reporter Yoo Hyun-seok] IMIYoni announced on the 25th that its exemption from sanctions for delayed submission of the business report has been approved. IMIYoni had applied for an exemption review for delayed submission sanctions on the 12th.

IMIYoni is an EMS (Electronics Manufacturing Services) specialized company for display PBA, supplying products to Samsung Electronics, Samsung Display, and others. As its major clients are establishing overseas production bases, IMIYoni also has a total of three overseas subsidiaries located in Tianjin and Suzhou, China, and Vietnam.

A company official stated, “Since our main business sites are located in China and Vietnam, the audit process could not avoid the impact of COVID-19,” adding, “Our affiliate IMIInternational, which operates a global performance planning business, also has a base in the Southeast Asia region, so it inevitably faced more restrictions.”

IMIYoni plans to submit the business report by the extended deadline of May 17.

Meanwhile, the Securities and Futures Commission under the Financial Services Commission decided on the 24th to exempt administrative sanctions for 15 out of 16 companies that applied for exemption from sanctions for delayed submission of business reports due to COVID-19, as they met the requirements.

This content was produced with the assistance of AI translation services.