[Special Stock] KG Mobility Trading Resumption Delayed, KG Group Stocks Fall Together

As the resumption of trading for KG Mobility (formerly Ssangyong Motor) is delayed, KG Group-related stocks are collectively declining in the stock market on the 5th.

As of 9:50 a.m. on the day, KG Mobilians is trading at 6,750 KRW, down 5.73% from the previous trading day, and KG ETS is trading at 18,550 KRW, down 5.12% on the KOSDAQ market.

The Korea Exchange decided the day before to subject KG Mobility to a substantial review of listing eligibility.

If the Exchange had judged that KG Mobility did not fall under the review by the Corporate Evaluation Committee, trading could have resumed immediately. However, according to this decision, the committee will determine whether to delist KG Mobility, grant an improvement period, or resume trading.

Ssangyong Motor, the predecessor of KG Mobility, faced delisting reasons due to refusal of audit opinions on financial statements for the fiscal years 2020 and 2021, citing uncertainties about the going concern ability.

Regarding the formal delisting reason due to refusal of audit opinions, Ssangyong Motor was recognized to have resolved this by receiving an unqualified opinion in the 2022 audit report; however, a substantial review reason for listing eligibility has instead arisen.

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