EngiChem Life Science resolves management dispute to resume trading

EngiChem Life Science has moved to normalize its management following the withdrawal of an injunction to suspend the duties of CEO Son Ki-young and Executive Director Kim Hye-kyung. This withdrawal reduces uncertainties regarding the appointment of an acting CEO and the potential suspension of the current leadership.

The company is also addressing accounting issues by initiating a re-audit of its 2025 fiscal year financial statements. This follows a previous disclaimer of opinion from auditors due to insufficient evidence regarding certain loan transactions. While the loans in question have been repaid, the company is working with external experts to verify transaction facts, fund flows, and internal controls.

In addition to the re-audit, EngiChem is reviewing treasury stock transactions, investments in unlisted companies, and collateralized transactions to reduce financial and legal burdens. CEO Son Ki-young stated that the company’s priority is normalizing operations and resuming stock trading, noting he would make decisions in the best interest of shareholders.