Financial Services Commission Imposes Fines on Daeju ENT and Others for Violating Accounting Standards

The Financial Services Commission announced on the 15th that it has decided to impose fines on four entities including Daeju ENT, which prepared and disclosed financial statements in violation of accounting standards, as well as related company officials and accounting firms.

The FSC imposed fines of 1.526 billion KRW and 152.6 million KRW respectively on Daeju ENT and its CEO, and 67.5 million KRW on Samdeok Accounting Firm for violating audit standards.

The FSC also imposed fines of 13.5 million KRW on two individuals including former CEO of Redrover, and 135 million KRW and 100 million KRW on Jeongil Accounting Firm and Jeongmyeong Accounting Firm respectively.

Additionally, the FSC decided to impose a fine of 9.2 million KRW on the CEO of Mupyeong Industry, and fines of 153.7 million KRW and 15.3 million KRW respectively on Elpatek and its CEO.