SK Telecom Co., South Korea’s top mobile carrier, may be named an “unreliable listed company” after it missed the deadline for issuing a public notice. On the evening of Oct. 31, SK Telecom, the second most valuable stock on the Seoul bourse, quietly announced it had been sued by its rival KTF Co. for allegedly defaming the rival’s corporate integrity.

The notice came two weeks after a Seoul court ordered SK Telecom to pay 7.5 billion won (US$6.35 million) in compensation to KTF for running “libelous” ads published in July 2002.Though the news had been widely reported in the media, SK Telecom didn’t file a notice with the Korea Stock Exchange (KSE) for almost 13 months, in apparent violation of Korean securities law. Continue >>

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