[Featured Stock] Geumyang Falls Over 4% Following Designation as an Unfaithful Disclosure Corporation

On the news that Geumyang was designated as a non-compliant disclosure corporation by the Korea Exchange, its stock price fell again in early trading on the 17th.

As of 9:20 a.m. on the day, Geumyang was trading at 53,400 won on the KOSPI market, down 4.47% from the previous trading day.

Right after the market opened, Geumyang's price even dropped to 52,500 won, down 6.08% from the previous trading day.

The KOSPI Market Headquarters of the Korea Exchange announced that it designated Geumyang as a non-compliant disclosure corporation last night, imposing 8.5 penalty points and a fine of 85 million won for disclosure violations.

Park Soon-hyuk, the former IR (Investor Relations) officer famous as the "Battery Uncle," mentioned on a YouTube broadcast last month that Geumyang planned to sell 170 billion won worth of treasury shares, citing on-market sales, block deals (off-hours large volume trades), and exchangeable bonds (EB) issuance as methods of disposal.

However, controversy arose over violation of disclosure obligations as the company disclosed the treasury share disposal plan through a specific media outlet outside of official disclosure channels, and the company belatedly announced the related details two weeks later.

Geumyang's stock price has continued to decline for four consecutive trading days from the 12th to the day of this report.

In particular, the stock price plunged 9.11% compared to the previous trading day yesterday following the news of the resignation of former officer Park, who had recently led the secondary battery investment boom.

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