What Happened?

On August 27, 2025, iCure announced that its delisting review period has been extended to September 17th. This signifies a need for further investigation and the final outcome could lead to continued suspension or resumption of trading.

Why Did This Happen?

iCure has been under review for delisting due to past corporate governance issues. Although the company has made efforts to improve governance, the exchange decided further investigation was necessary.

What’s Next?

Positive Factors:

  • Improved Financials: Despite a decrease in total assets, iCure shows positive trends with increased current assets, decreased liabilities, and increased equity.
  • Cosmetics Business Growth: The development of MCS Emulsion technology-based products and securing major clients are driving sales growth.
  • Corporate Governance Improvement Efforts: The company is making efforts to improve corporate governance, including clarifying minority shareholder rights and introducing electronic voting.

Negative Factors:

  • Uncertainty of Delisting Criteria: The lack of clarity in the review criteria makes prediction difficult.
  • Past Governance Issues: Past issues could resurface.

External Factors:

  • Rising KRW/USD Exchange Rate: This could be positive for exporting companies but may lead to increased import costs.
  • Volatility of International Oil Prices: While there is potential for easing logistics costs, volatility remains high.

What Should Investors Do?

  • Monitor Information Closely: Investors must diligently check announcements and disclosures regarding the delisting review results.
  • Cautious Investment Approach: Maintaining a conservative investment strategy until the results are announced is recommended.
  • Fundamentals-Based Evaluation: Investors should analyze the company’s fundamentals and make investment decisions regardless of the delisting outcome.