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False disclosures surge on KOSDAQ in 2018

Stocks 14:13 January 13, 2019

SEOUL, Jan. 13 (Yonhap) -- The number of false disclosures of corporate information on the tech-savvy KOSDAQ market surged more than 40 percent last year, the bourse operator said Sunday.

False filings, including nonfulfillments, totaled 101 last year on the secondary stock market, up 42.3 percent from a year earlier, according to the Korea Exchange (KRX).

On the benchmark KOSPI board, false filings remained unchanged from the year before at 11 in 2018.

The KRX said the sharp increase on the KOSDAQ market was led by a rise in the number of newly listed firms and the sluggish stock market last year.

For the whole of 2018, a combined 15,059 filings were posted on the KOSPI, up 3.9 percent on-year, with an average 19.1 per company.

Companies on the KOSDAQ market made 20,918 disclosures of corporate information last year, up 6.9 percent from a year earlier. A KOSDAQ-listed firm disclosed an average 15.8 posts last year, according to the KRX.

False disclosures surge on KOSDAQ in 2018 - 1

brk@yna.co.kr
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