POSCO confirmed a serious industrial accident at a subsidiary on 9 June and disclosed it on 10 June. The Korea Exchange treated the one-day gap as a failure to disclose under Article 33 of the KOSPI Disclosure Regulation and issued advance notice that POSCO would be designated an "unfaithful disclosure company." The notice records zero penalty points against POSCO over the preceding year and states that if cumulative points reach ten, trading in the shares is halted for a full day on the designation date. POSCO had until 19 June to appeal under Article 34. On 23 June the exchange decided not to designate, deferring the matter.

Nothing here damaged the company. It is worth knowing because there is no US equivalent: the SEC does not publish a running scoreboard of filing promptness, assign points, or suspend trading as a disclosure sanction. Korea does all three, and the record is public on DART but invisible to a holder of the New York ADR.