SsangYong and 3 others in Korea receive disclaimer opinion from outside auditors

[Photo by Lee Seung-hwan]

SsangYong Motor Co. under court protection and three others have been blacklisted after their financial settlements for 2020 had been rejected by outside auditors, a procedure before delisting review.

Kospi-listed SsangYong Motor, Seongan and Sewoo Global, as well as Kosdaq-listed Neuros, recently received a disclaimer of opinion for their 2020 financial statements from their outside auditors, according to the Financial Supervisory Service.

Cash-deprived SsangYong Motor was turned down by outside auditor Samjong KPMG as its liabilities exceeded working capital by 111.8 percent as of the end of last year. If it fails to iron out an investment deal by the end of the month, it could be delisted from the country’s main stock market.

Trading of SsangYong Motor shares has been halted at 2,770 won since late last year.

Meanwhile, 34 companies will be newly joining the watch list of the country’s stock operator as they have filed for a delay in their 2020 fiscal statements.

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