[Alpha Biz=(Chicago) Reporter Kim Jisun] Ssangbangwool's stock trading was suspended after former chairman Kim Sung-tae was additionally indicted on charges of embezzlement and breach of trust.

The Korea Exchange will discuss whether Ssangbangwool will be subject to deliberation by the Corporate Review Committee in the future. If it is recognized as a target of the corporate review committee, it will determine whether to grant an improvement period and resume transactions, and in the worst case, it could go as far as delisting.

According to the financial investment industry on the 9th, the Korea Exchange said in a public announcement on Ssangbangul on the 7th, "It will decide whether it is subject to deliberation by the Corporate Review Committee in accordance with Article 49 of the Regulations on the Listing of the Securities Market in connection with allegations of embezzlement and breach of trust."

The exchange will decide whether Ssangbangwool is subject to deliberation by the committee by the 28th. If further investigation is needed, the period can be extended within 15 business days. If it is decided that it is not subject to deliberation by the corporate review committee, it will inform you of the lifting of the transaction suspension.

 

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