[Edaily Reporter Kim Hyung-wook ] Although SambuEngineering&Construction has resolved the grounds for delisting—specifically, the audit opinion and full capital impairment—it has been placed under substantive review for listing eligibility.

The Korea Exchange (KRX) announced on the 31st that grounds for a substantive review of SambuEngineering&Construction’s listing eligibility have arisen. The KRX plans to determine by September 21 whether the matter warrants deliberation by the Corporate Review Committee. Trading in the company’s shares remains suspended.

SambuEngineering&Construction’s stock trading was suspended after the company received a disclaimer of opinion from its auditor regarding its August 2024 interim financial statements. At that time, doubts were raised about the company’s ability to continue as a going concern due to a net loss of 51.6 billion won in the first half of the year, accumulated losses of 256.7 billion won, and short-term borrowings maturing within one year totaling 171.2 billion won.

Subsequently, the company received an adverse audit opinion for two consecutive fiscal years—2024 and 2025—triggering grounds for delisting. The exchange granted a remediation period and has been reviewing whether to delist the company.

In the audit report submitted today, SambuEngineering&Construction received an “unqualified” audit opinion for the 2025 fiscal year, thereby resolving the grounds for delisting stemming from the previous failure to meet audit standards. The company also emerged from a state of full capital impairment as of the end of 2025.

However, as the exchange has separately determined that grounds for a substantive review of listing eligibility have arisen, the decision on whether to resume trading is expected to depend on the results of that future review.