Kwanglim, a subsidiary of Ssangbangwool, received a decision to delist from the corporate review committee.

Kwanglim, a subsidiary of Ssangbangwool, received a decision to delist from the corporate review committee.: COMPANY / Reporter Kim Jisun / 2023-05-15 04:24:24

(사진= 연합뉴스)

[Alpha Biz=(Chicago) Reporter Kim Jisun] Gwanglim, an affiliate of Ssangbangwool Group, announced on the 12th that it has been delisted by the Korea Exchange's Corporate Review Committee.

The exchange shall hold the KOSDAQ Market Committee by June 13, within 20 business days pursuant to Article 57 (5) of the KOSDAQ Market Listing Regulations, and deliberate and decide whether to delist Gwanglim and grant an improvement period.

The reasons for the actual examination of the eligibility for listing occur when the amount of embezzlement and breach of trust are more than 5% of their equity capital, and executives are more than 3% of their equity capital or more than 1 billion won, according to the KOSDAQ market listing regulations.

In February this year, Gwanglim had a real reason to review its eligibility for the listing on charges of large-scale embezzlement and breach of trust against former Ssangbangwool Chairman Kim Sung-tae and Ssangbangwool Chairman Yang Sun-gil. The damage was 1.8 billion won, which is 0.78% of its equity capital, but the exchange decided to suspend the trading of sovereignty.