Korean regulator fines China Gaoxian, former chairman, chief financial officer, underwriters
THE South Korean financial regulator has fined scandal-hit China Gaoxian Fibre Fabric Holdings and former key staff over disclosure issues relating to its Korean listing in 2011.
China Gaoxian, which is listed on the Singapore Exchange, said on Thursday that it had been fined 2 billion won (S$2.3 million) by the Financial Supervisory Services of Korea (FSS).
Its former executive chairman Cao Xiangbin was fined 50 million won, while former chief financial officer Raymond Wong was hit with a 16 million won fine.
The FSS has also brought its case against China Gaoxian and Mr Cao to Korean prosecutors.