Exchange: "Kosen, Capital Impairment Ratio Over 50%... Cause for Delisting"

[Asia Economy Reporter Yoo Byung-don] The Korea Exchange KOSDAQ Market Division announced on the 14th that Kosen disclosed in its semi-annual report submitted that the capital impairment ratio as of the recent semi-annual period-end exceeded 50%, triggering grounds for delisting.

Kosen also submitted an audit report with an 'unqualified' audit opinion proving the resolution of the delisting cause on the same day.

Kosen explained, "As of the semi-annual period ending June 30 this year, the company's capital impairment ratio was 74.14%, but in August, we decided on a capital reduction at an 80% ratio and obtained an 'unqualified' opinion from an external audit as of the reference date of the 7th, fully resolving the capital impairment."