Alpha Holdings "Audit Committee Accounting Violations... No Impact on Business Environment"

[Asia Economy Reporter Yoo Hyun-seok] Alpha Holdings stated on the 3rd that the fine and one-year auditor designation received from the Securities and Futures Commission on the 2nd for violations of accounting standards do not affect the company's business environment.

Alpha Holdings emphasized that this measure was due to negligence and not intentional. The matter pertains to the incident during the trading suspension caused by audit opinions from December 2016 to September 2017, and is only a past issue. The company clarified that there has been no separate prosecution against the company or its executives, and only a fine has been imposed.

An Alpha Holdings official said, “This is a follow-up result of the incident during the trading suspension in 2016-2017, and the matter has already been reflected in the accounting treatment, so there is no change in the company’s business environment,” adding, “According to disclosure regulations, this does not constitute grounds for trading suspension or delisting.”