Almost 40 Companies on the Verge of Delisting

The Korea Exchange announced on March 29 that a total of 39 companies whose fiscal year ends in December failed to obtain an unqualified audit opinion in their FY2020 audit reports submitted by March 26.

The 39 companies are divided into seven KOSPI-listed and 32 KOSDAQ-listed companies. In KOSPI, JW Holdings and JW Bioscience have been designated as administrative issues due to qualified opinions. The other 37 have been classified as delisting candidates.

The 37 include SsangYong Motor. It became an administrative issue last year and has been given a disclaimer of opinion again.

In KOSDAQ, 12 companies have been given a disclaimer of opinion for the second consecutive year. In addition, 20 are now administrative issues or delisting candidates with non-unqualified opinions.

The number of such companies may increase as some are yet to submit their audit reports. Specifically, 41 companies have yet to submit their reports for the 2020 fiscal year.