Samchundang Pharm Designated as Unfaithful Disclosure Entity...5 Demerit Points Imposed

Samchundang Pharm has been designated as an unfaithful disclosure entity.

On April 20, the KOSDAQ Market Division of the Korea Exchange announced that Samchundang Pharm was designated as an unfaithful disclosure entity and penalized with 5 demerit points due to its failure to comply with fair disclosure requirements regarding business performance forecasts or predictions.

Previously, on March 31, the Korea Exchange had issued a preliminary notice of designation as an unfaithful disclosure entity for Samchundang Pharm. It also stated that a disclosure committee composed of external experts would deliberate on the motives and significance of Samchundang Pharm's disclosure violations.

If demerit points accumulate, the company may be designated as an issue for management, and if similar cases recur after such designation, it may become subject to a substantive delisting review.

The exchange further noted that, including this instance, the total demerit points imposed on Samchundang Pharm for unfaithful disclosure designations over the past year amount to 5 points.

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