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Samsung BioLogics averts delisting from Korean stock market

All Headlines 19:20 December 10, 2018

SEOUL, Dec. 10 (Yonhap) -- South Korea's bourse operator on Monday decided to allow Samsung BioLogics Co. to continue to be traded on the local stock market despite its accounting fraud.

The corporate review committee under the Korea Exchange (KRX) made the ruling after the country's financial regulator, the Financial Services Commission (FSC), ruled on November 14 that Samsung BioLogics intentionally violated accounting rules ahead of its initial public offering in 2016.

The decision led to an instant halt to the trading of its shares on the KOSPI bourse.

The Korea Exchange in Yeouido, Seoul (Yonhap)

graceoh@yna.co.kr
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