Exchange "Asiana Airlines Stock Trading Halted"
[Asia Economy Reporter Lim Hye-seon] The stock trading of Asiana Airlines and Kumho Construction has been suspended.
The Korea Exchange's KOSPI Market Headquarters announced on the 26th that it requested a disclosure inquiry regarding allegations of embezzlement and breach of trust by former management, and suspended trading. The deadline for the disclosure response is 6 PM on the 27th.
However, Kumho Construction later responded, "We have confirmed that we were indicted for violating the Monopoly Regulation and Fair Trade Act, and confirmed that there are no applicable charges regarding violations of the Act on the Aggravated Punishment of Specific Economic Crimes (embezzlement and breach of trust)." Accordingly, Kumho Construction's stock trading will resume at 9 AM on the 27th.
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Meanwhile, on the same day, the Fair Trade Investigation Division of the Seoul Central District Prosecutors' Office (Chief Prosecutor Kim Min-hyung) arrested and indicted former Kumho Asiana Group Chairman Park Sam-gu on charges of violating the Monopoly Regulation and Fair Trade Act and embezzlement and breach of trust under the Act on the Aggravated Punishment of Specific Economic Crimes.
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