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FILE PHOTO: A plane flies over the Asiana Airlines headquarters in Seoul, July 7, 2013. REUTERS / Kim Hong-Ji / Photo File
SEOUL (Reuters) – The Korea Stock Exchange (South Korea) suspended on Monday the trading of its shares in the South Korean company Asiana Airlines Inc. An auditor published a report stating a lack of evidence to judge the market value of the airline.
"According to the report of the audit firm Asiana Airlines, Samil PwC, the scope of the audit was limited because the auditor could not obtain complete evidence for determine the value of the airline, "said Friday a manager of the Korea Exchange.
South Korea will resume negotiations on the shares of the second largest South Korean airline.
In response to the shutdown, Asiana Airlines said in a statement that it would promptly ask the auditor to resolve the reasons that motivated the opinion with reserve.
The shares of the subsidiaries of Asiana Airlines have plunged into the suspension of the shares of the carrier by the stock exchange.
Asiana IDT Inc. saw its shares fall by 13.5% to 0200 GMT, while the budget subsidiary Air Busan Co Ltd posted a loss of 2.3%.
The wider KOSPI market was trading up 0.09%.
Reportage by Heekyong Yang; Additional report by Hayoung Choi; Edited by Christopher Cushing
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