[Asia Economy Reporter Minyoung Kim] Hanp announced on the 24th that after holding a board meeting, it submitted a petition for commencement of rehabilitation proceedings to the Seoul Bankruptcy Court. The company stated that the reason for the application was "to overcome the liquidity crisis caused by business deterioration and delayed recovery of loans."
The KOSDAQ Market Headquarters announced that from 5:47 PM on the same day until the decision on the commencement of rehabilitation proceedings, trading of the company's stock will be suspended.
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