Financial Services Commission imposes a fine of 274 million KRW on Shineung for 'Accounting Standard Violations'
The Financial Services Commission announced on the 29th that it has decided to impose a fine of 273.9 million KRW on Shinheung, a KOSPI-listed company, for violating accounting standards.
Three individuals, including the CEO of Shinheung, were fined a total of 81.9 million KRW. Samil Accounting Corporation, which neglected audit procedures, was also fined 131.2 million KRW. It was found that Shinheung had overstated its inventory assets.
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Additionally, two individuals, including the CEO of Gold Pacific, a KOSDAQ-listed company, were fined 33 million KRW for false reporting of sales and cost of sales.
This content was produced with the assistance of AI translation services.
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