SEOUL, 04 Jan. (Yonhap) – The number of companies that were delisted from the South Korean stock market quadrupled in 2020 from the previous year due to poor financial health or other factors, data from the Korea Exchange (KRX) showed on Monday.
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A total of 16 companies, including solar battery parts maker Woongjin Energy Co., were pulled from the Kospi and Kosdaq last year, the data showed.
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Three companies were delisted from the primary market and the others from the secondary market. Eleven companies were forced out of the stock market because of unfavorable reports from independent auditors on their financial situation.
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The number is an increase of one company from the previous year and after the 13 recorded in 2018.
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Other companies have suffered the same fate due to their financial weakness, a merger or a delay in submitting their documents, according to the stock market operator.
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