Korea Exchange Announces Preliminary Designation of SD System as an Unfaithful Disclosure Corporation

by Lee Seonae

Published 25 May.2021 11:11(KST)

[Asia Economy Reporter Lee Seon-ae] The Korea Exchange KOSDAQ Market Division announced on the 25th that it will designate SD System as an unfaithful disclosure corporation due to the reversal of disclosure following the withdrawal of a third-party allotment capital increase.

The deadline for deciding whether to designate as an unfaithful disclosure corporation is June 17, 2021. If finally designated as an unfaithful disclosure corporation and the penalty points imposed are 5.0 points or more, trading may be suspended for one day. If the cumulative penalty points over the past year, including those imposed for this case, reach 15 points or more, the company may be subject to a substantial review of listing eligibility.