Financial authority fines Wooridul Pharmaceutical and 7 others for violating disclosure rules

[THE INVESTOR] South Korea’s Securities & Futures Commission said on June 30 it slapped fines on eight companies for violating disclosure rules.

The commission said it levied Wooridul Pharmaceutical with a 12.5 million won (US$10,831) fine for not reporting changes in payment dates of a subscription deposit when the firm conducted a new share capital increase in 2012.

KT Submarine also faces a 41.1 million won fine for failing to file reports on an unmanned submersible vehicle and submarine cable ship that the company acquired in 2014.

Others that were fined include e-Corea Real Estate Investment, Woosung I.B., e-Starco, Iljeong Industrial, Jenax and ATGen.

By Park Han-na (hnpark@heraldcorp.com)