Gyeyang Electric Faces Employee Embezzlement Allegations of 24.5 Billion KRW... Stock Trading Suspended
[Asia Economy Reporter Lee Seon-ae] Gyeyang Electric announced on the 15th that it has filed a complaint against its finance team employee Kim for embezzlement (violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes).
The estimated embezzled amount is 24.5 billion KRW, which corresponds to 12.7% of Gyeyang Electric's equity capital of 192.6 billion KRW.
The Korea Exchange's KOSPI Market Headquarters announced that due to the employee's embezzlement allegations, Gyeyang Electric has triggered a cause for a substantial review of listing eligibility and has suspended trading of its shares.
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?
The Exchange plans to decide by the 10th of next month whether Gyeyang Electric will be subject to review by the Corporate Evaluation Committee.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
