Photo = Kakao Mobility

 

[Alpha Biz= Reporter Kim Minyoung] The final sanction level for Kakao Mobility, amidst allegations of revenue inflation and suspected accounting irregularities, will be decided.

According to the Financial Supervisory Commission on the 17th, the Securities and Futures Commission (SFC) will convene a meeting at the Government Seoul Office to discuss the level of sanctions.

Lee Yoon-soo, an SFC member who served as the head of the Capital Markets Department at the Financial Services Commission during last April's stock manipulation by the La Duck-yeon group, stressed the need to strengthen the authority and role of the SFC for the market to stabilize promptly. Therefore, there is a high possibility that sanctions will be finalized on the 17th without further delay. If sanctions are imposed, Samil Accounting Corporation and Samjeong Accounting Corporation, which were responsible for audits, as well as Hanyoung Accounting Corporation, which was involved in accounting advisory services, could also face sanctions.

Kakao Mobility is expected to be the final agenda item at the meeting on the 17th. If a decision on sanctions is made, the results are likely to be announced after the meeting. The SFC, composed of both public and private members, will adjourn for summer recess after the meeting on the 17th. If no decision is reached at the meeting on the 17th, a reconsideration is scheduled for August.

 

 

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