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Geumyang headquarters. (Photo: Geumyang) |
[Alpha Biz= Ellie Kim] SEOUL, May 21 — Geumyang has filed for a court injunction to suspend the effectiveness of a delisting decision by the Korea Exchange, aiming to halt the process and secure time for business normalization.
The company said it submitted the request to the Seoul Southern District Court on May 21. If accepted, follow-up delisting procedures will be suspended until the court reaches a decision.
The Korea Exchange had decided on May 20 to delist Geumyang after the company received a “disclaimer of opinion” from its external auditor for two consecutive fiscal years, citing ongoing financial distress. The auditor highlighted continued operating and net losses, along with a significant excess of current liabilities over current assets.
Geumyang said it will use the legal process to present its recovery plans, including efforts to secure funding and complete its plant construction project, while seeking a fair reassessment of its corporate value.
Alphabiz Ellie Kim 인턴기자(press@alphabiz.co.kr)
