Korea Zinc has been designated as a non-compliant disclosure corporation. The Korea Exchange determines that a listed company is a non-compliant disclosure corporation after a judgment process if it fails to faithfully fulfill its disclosure obligations under the Capital Markets Act and the disclosure regulations of the KOSDAQ.
On Nov. 11, the KOSDAQ headquarters of the Korea Exchange announced that it would designate Korea Zinc as a non-compliant disclosure corporation due to non-fulfillment of disclosures and disclosure reversals. The Korea Exchange judged that Korea Zinc had unfaithfully disclosed the delay in correcting the facts that occurred after the filing of lawsuits or requests in the process of a management dispute lawsuit and the withdrawal of the decision for capital increase.
As a result, Korea Zinc was imposed with a penalty score of 7.5 points and a fine of 65 million won for violations of disclosure. If designated as a non-compliant disclosure corporation and receiving a score of 10 points or more, trading will be suspended for one day on the day of designation based on trading days. If the cumulative penalty score exceeds 15 points within the past year, it may be designated as a management issue.