S.Korea's Hyosung shares drop after media reports chairman indicted

HYOSUNG

27/12/2019 01:17

** Hyosung Corp  004800.KS  shares drop after local media
reports that its chairman Hyun-joon Cho was indicted for
unfairly supporting affiliates
    ** Prosecutors have investigated the textiles and chemicals
company over doubts that it had unfairly helped Cho's
private-owned company which was in financial trouble, according
to Yonhap News Agency https://www.yna.co.kr/view/AKR20191121152300004?input=1195m
 and other local media
    ** Cho has been indicted, Yonhap says, citing prosecutors
    ** Company spokesman tells Reuters that it will explain its
position during trials
    ** Hyosung falls nearly 7% to hit its lowest since Dec. 10
    ** The benchmark KOSPI market  .KS11  was down 0.3%

 (Reporting by Hayoung Choi; Editing by Himani Sarkar)
 ((Hayoung.Choi@thomsonreuters.com; +82 2 6936 1468))