Global Interactive Technologies Inc. Faces $104,750 Fine for Korean Securities Regulation Violation

Reuters
Jun 25
<a href="https://laohu8.com/S/GITS">Global Interactive Technologies Inc.</a> Faces $104,750 Fine for Korean Securities Regulation Violation

Global Interactive Technologies Inc. has announced that the Securities and Futures Commission of the Republic of Korea imposed an administrative fine of KRW 142.1 million (approximately $104,750) for violations of Korean securities regulations. The fine relates to the company's failure to submit a securities registration statement during a public offering. Between April and July 2023, the company raised approximately KRW 5.92 billion (around $4.36 million) by issuing shares to 124 investors without the required documentation. The company filed an objection to the sanction, which was dismissed in March 2025, and is currently appealing the decision, believing the sanction to be without merit. The fine remains unpaid pending the outcome of the appeal. No sanctions have been imposed on current management or directors. The company is assessing the impact of this regulatory action.

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