Exchange "KOSPI Market, Hightro Systems, Ssangyong Motor and 2 Others Face Delisting Risk"

[Asia Economy Reporter Minji Lee] Four KOSPI-listed companies are facing the risk of delisting.

The Korea Exchange announced on the 3rd, through the ‘Status of Market Measures Related to the Financial Statements of December Fiscal Year 2020 Listed Companies on the KOSPI Market,’ that four KOSPI-listed companies will undergo delisting procedures.

The Exchange plans to decide whether to grant an improvement period upon submission of objections for Seondo Electric and Hightone Systems, which received audit opinion rejections for the first time in the last fiscal year. HiGold No.3, which received an adverse audit opinion, is scheduled to be delisted on the 11th. The ship investment company HiGold No.3 was confirmed for delisting after failing to submit an objection following the delisting notice due to the adverse audit opinion on the 3rd of last month.

Ssangyong Motor, which received audit opinion rejections for two consecutive years, will have its delisting decision made after the improvement period ends on the 14th and following a review by the Listing Disclosure Committee.

Three companies were newly designated as management-listed companies. HiGold No.3 and Seondo Electric were designated as such for reasons of public interest realization and investor protection, while Iljeong Silup was designated due to a limited audit scope.

Five existing management-listed companies?JW Life Science, Segi Sangsa, Zico, JW Holdings, and Sewoo Global?have resolved the reasons for their designation and have been removed from the management-listed status.