A hearing date has been set for Kumyang's injunction request to suspend the effect of the Korea Exchange (KRX)'s delisting decision, which the company filed in protest.
According to legal sources on the 4th, the Seoul Southern District Court Civil Division 51 (Presiding Judge Kwon Seong-su) will hold the first hearing at 3:10 p.m. on the 24th on Kumyang's request for an injunction to suspend the effect of the delisting decision against the Korea Exchange (KRX).
The Korea Exchange (KRX) convened the KOSPI Market Listing Disclosure Committee on the 20th of last month and deliberated and resolved to delist Kumyang. This was because Kumyang received a "disclaimer of opinion" from its external auditor in the 2025 fiscal year audit report, following the 2024 fiscal year, which constitutes grounds for delisting.
Kumyang filed for an injunction the day after the Korea Exchange (KRX)'s delisting decision. Kumyang said, "We are doing this to honor the earnest wish of 240,000 shareholders to maintain the listing and to receive a fair judgment."
Founded in 1978, Kumyang grew on the back of its foaming agent and fine chemicals businesses. Entering the 2020s, it expanded into the secondary battery sector. As it established itself as a "secondary battery theme stock," its market capitalization neared 10 trillion won in July 2023.
In 2023, Kumyang moved to build a secondary battery manufacturing plant in Gijang County, Busan, to produce cylindrical batteries. It also pursued investments in mines in Mongolia and the Congo.
However, with Kumyang's finances tight, the 450 billion won shareholder-allotted paid-in capital increase planned for 2024 fell through, flashing a red light for its business momentum. Its market capitalization also shrank to 633.3 billion won before the suspension of stock trading.