Chorokbaem Media, 'Occurrence of Substantial Review for Listing Eligibility'
Chorokbaem Media announced on the 18th that it has been confirmed that Won Young-sik, former chairman of Chorokbaem Media, has been indicted on charges of violating the Act on the Aggravated Punishment of Specific Economic Crimes (breach of trust). The embezzled amount is 1.497 billion KRW, which corresponds to 0.49% of the company's equity capital.
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The Korea Exchange KOSDAQ Market Division announced on the same day that a cause for a substantive review of listing eligibility has arisen for Chorokbaem Media. Accordingly, the suspension period for stock trading has been changed from "until the resolution of the existing rumor-related issues" to "until the decision on whether to subject the company to a substantive review of listing eligibility."
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