Financial Services Commission imposes a fine of 870 million KRW on Dobu Mask for accounting standard violations

The Financial Services Commission announced on the 4th that it has decided to impose a fine of 868.5 million KRW on textile manufacturer Dobu Mask for preparing and disclosing financial statements in violation of accounting standards.

A fine of 723.9 million KRW was imposed on Dobu Mask, and 144.6 million KRW was imposed on two individuals, including the CEO. Earlier in June, the Securities and Futures Commission under the Financial Services Commission had decided on sanctions including auditor designation and prosecution notification against Dobu Mask.