[Asia Economy Reporter Hwang Yoon-joo] Norangpungseon is plummeting following the news of its designation as a management item.
As of 10:09 AM on the 24th, Norangpungseon is trading at 13,600 KRW, down 13.92% (2,200 KRW) compared to the previous trading day.
On this day, Norangpungseon announced that it was included in the management item category according to the KOSDAQ listed companies' sales criteria, having recorded sales of 2.5 billion KRW on a separate basis last year.
A Norangpungseon official explained, "We faithfully complied with the government's administrative orders restricting overseas travel and requiring up to 14 days of self-quarantine for overseas arrivals," adding, "It was virtually impossible to operate."
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