S. Korea-listed Chinese firms asked to improve transparency
SEOUL, July 5 (Yonhap) -- The Korea Exchange, South Korea's bourse operator, said Wednesday it held a meeting with 14 Chinese companies that are listed on Korean stock markets and asked them to improve transparency in accounting practices.
During the meeting in Shanghai with chief executives of the Chinese firms earlier in the day, the exchange also asked the companies to step up efforts to better communicate with Korean investors.
The firms that are listed on the junior KOSDAQ market include Golden Century, China Hao Ran Recycling and East Asia Holdings Investment.
The meeting came amid lackluster investor sentiment toward Korea-listed Chinese firms, with some Chinese companies being delisted from the Korean stock market after grappling with lower valuations and false financial disclosures.
A total of 22 Chinese companies had been allowed to trade their shares on the Korean stock market since 2007, but seven have been delisted so far.
Investor confidence toward locally listed Chinese shares plunged after China Gaoxian Fibre Fabric Holdings Ltd, a Chinese textile company, was expelled in 2011 just months after being listed on the KOSDAQ over dubious accounting practices.
(END)
-
(News Focus) Samsung's Lee expected to solidify leadership, step up biz activities after receiving pardon
-
S. Korea expresses deep regret over Japanese PM's offering to war shrine
-
(LEAD) Yoon pledges to improve ties with Japan, offers economic aid in exchange for N.K. denuclearization
-
(LEAD) Bill Gates calls for S. Korea to play leading role in global health cooperation
-
Jungkook, first runner of BTS' photo album project
-
(2nd LD) Samsung heir Lee granted special presidential pardon
-
(News Focus) Samsung's Lee expected to solidify leadership, step up biz activities after receiving pardon
-
(LEAD) Yoon pledges to improve ties with Japan, offers economic aid in exchange for N.K. denuclearization
-
Today in Korean history
-
Ex-ruling party chair takes swipe at Yoon amid legal action over leadership switch
-
Busan mayor proposes allowing alternative military services for BTS
-
Preorders for BLACKPINK's second LP surpass 1.5 mln copies
-
(LEAD) New COVID-19 cases near 180,000; imported cases hit record high
-
Daegu military air base to be relocated to nearby area by 2030 under 11.4 tln-won project
-
S. Korea's new COVID-19 cases over 170,000 for 2nd day