KoreaStockCheckINSPECTION REPORT · KRX FILINGS · AS OF 2026-01-27 — frozen at delisting
HIGHEST RISK

Kukbo

KRX 001140 · 국보
Risk score 57 — higher is riskier
LOWESTLOWMODERATEHIGHHIGHEST
⛔ DELISTED (2026-01-27) — Audit opinion disclaimed (two years running)
Verdict. In the last five years this company filed 10 rights offerings, 11 convertible-bond issuances, 1 capital reduction. That places it among the riskiest 0.1% of 3,442 listed companies. Its filed financials show operating losses 5 fiscal years running. Historically, 42.1% of companies rated HIGHEST RISK were later delisted for cause — 8× the market average. The most recent of these filings: 2025-02-27 — the report always looks at the last 5 years, so older filings roll off over time.

The full checklist — including the zeros

Audit-opinion issues2
Capital reductions1
Convertible/warrant bonds11
Corporate splits0
Embezzlement/breach-of-trust filings0
Rights offerings10
Unfaithful-disclosure sanctions2
KRX administrative-issue designations0
Fatal-type filings, last 5 yrs4
Capital impairment (FY2024)None
Consecutive operating-loss years5
CoverageLast 5 years of filings

Plus 5 older fatal-type filings (2019–2020) — outside the scoring window; listed in the history section below.

Company analytics

DELISTED
2026-01
Audit opinion disclaimed (two years running)
SHARE COUNT, 5Y
-68%
share count collapsed through capital reductions — long-term holders were largely wiped out
FATAL FILINGS
9
7× disclosure sanction (2019–2023) · 2× audit-opinion issue (2024–2025) — 4 within the last 5 years; each listed below

Ten-year event timeline

2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026

● CB/BW · ● rights offering · ● capital reduction · ● split · ● fatal filing

Fatal-type filings

🚩 2025-08-14 — Audit opinion issue (2× in 3 yrs) · DART filing ↗
반기검토의견부적정,의견거절또는완전자본잠식사실발생
🚩 2024-08-14 — Audit opinion issue (1× in 3 yrs) · DART filing ↗
반기검토의견부적정,의견거절또는완전자본잠식사실발생
🚩 2023-08-16 — Unfaithful-disclosure designation (2× in 3 yrs) · DART filing ↗
불성실공시법인지정
🚩 2023-07-24 — Unfaithful-disclosure designation (1× in 3 yrs) · DART filing ↗
불성실공시법인지정예고
5 fatal-type filings older than 5 years — no longer counted in the score; listed with sources so you can judge the governance history yourself
2020-01-21 — Unfaithful-disclosure designation · DART filing ↗
2019-12-26 — Unfaithful-disclosure designation · DART filing ↗
2019-12-10 — Unfaithful-disclosure designation · DART filing ↗
2019-11-15 — Unfaithful-disclosure designation · DART filing ↗
2019-03-14 — Unfaithful-disclosure designation · DART filing ↗

Dilution & impairment filings — last 5 years, each with the original filing

FILEDEVENTPATTERNORIGINAL TITLE (KOREAN)SOURCE
2025-02-27Rights offering9× in 3 yrs주요사항보고서(유상증자결정)DART filing ↗
2024-03-29Rights offering9× in 3 yrs주요사항보고서(유상증자결정)DART filing ↗
2024-03-07Rights offering8× in 3 yrs주요사항보고서(유상증자결정)DART filing ↗
2024-02-14Rights offering8× in 3 yrs주요사항보고서(유상증자결정)DART filing ↗
2024-02-01Convertible/Warrant bond11× in 3 yrs주요사항보고서(전환사채권발행결정)DART filing ↗
2024-01-17Rights offering7× in 3 yrs주요사항보고서(유상증자결정)DART filing ↗
2023-12-13Capital reduction1× in 3 yrs주요사항보고서(감자결정)DART filing ↗
2023-08-22Rights offering6× in 3 yrs주요사항보고서(유상증자결정)DART filing ↗
2023-05-11Convertible/Warrant bond14× in 3 yrs주요사항보고서(전환사채권발행결정)DART filing ↗
2023-01-11Convertible/Warrant bond13× in 3 yrs주요사항보고서(전환사채권발행결정)DART filing ↗
2022-11-18Rights offering7× in 3 yrs주요사항보고서(유상증자결정)DART filing ↗
2022-11-17Convertible/Warrant bond12× in 3 yrs주요사항보고서(전환사채권발행결정)DART filing ↗
2022-11-17Rights offering6× in 3 yrs주요사항보고서(유상증자결정)DART filing ↗
2022-07-11Convertible/Warrant bond11× in 3 yrs주요사항보고서(전환사채권발행결정)DART filing ↗
2022-06-02Rights offering6× in 3 yrs주요사항보고서(유상증자결정)DART filing ↗
2021-12-20Convertible/Warrant bond12× in 3 yrs주요사항보고서(전환사채권발행결정)DART filing ↗
2021-11-30Convertible/Warrant bond11× in 3 yrs주요사항보고서(전환사채권발행결정)DART filing ↗
2021-09-10Convertible/Warrant bond10× in 3 yrs주요사항보고서(전환사채권발행결정)DART filing ↗
2021-06-09Convertible/Warrant bond9× in 3 yrs주요사항보고서(전환사채권발행결정)DART filing ↗
2021-05-31Convertible/Warrant bond8× in 3 yrs주요사항보고서(전환사채권발행결정)DART filing ↗
Sources. Public DART filings only — every claim links to the original document. Facts, not opinions. Not investment advice.
Rating. Five ratings from LOWEST to HIGHEST RISK, validated against a decade of official KRX delisting outcomes — every company re-rated at seven annual start dates (2016–2022) and tracked forward. Rates cited on this page are from the most recent full cohort (rated Feb 2022, tracked ~4.5 years).
Score. A weighted count of dilution/impairment filings over the last 5 years (exact weights proprietary). Validated against a decade of official KRX delisting outcomes (see Rating above).
Coverage. Filings 2011–2026 · all KOSPI/KOSDAQ listed companies · refreshed daily.
Corrections. Believe a filing here is misattributed or misread? Email us with the item — verified errors are corrected promptly and noted.
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