Skonec Entertainment스코넥

Skonec is in deep financial distress, with heavy losses, a corporate rehabilitation application, and a rights offering withdrawn.

Skonec Entertainment, a Seoul-listed VR and XR content developer, is reporting large operating and net losses, with H1 2026 operating loss of about ₩-10.1B and net loss of about ₩-20.4B, and borrowings of ₩1.4B against cash of ₩0.1B. Its filings show a late-September application for commencement of corporate rehabilitation proceedings, and the share price has fallen about 79.5% over the past year to ₩327. Revenue is not reported in the data provided, so margins cannot be assessed.

What stands out

• Losses have widened each year since 2021 in the filed figures, with 2025 operating loss of ₩-12.2B and net loss of ₩-21.9B.
• Filings from late September 2026 include a rehabilitation proceedings application, and an October 2 filing withdrew a material event report on a rights offering.
• The company was designated an insufficient disclosure company on October 16, citing four cases of disclosure non-compliance and one reversal.
• Several lawsuit filings or rulings were logged on October 21 and 22, but the data does not give their details.
• Price-to-book has fallen from 12.9 in 2022 to 1.3 now, while market capitalisation is about ₩7.1B. Foreign ownership is 8.3%, and the 20-day flows show retail buying ahead of foreign and institutional activity.
• News headlines are absent from the data, so no independent press coverage is available to cross-check the filings.

What to watch

• Outcome of the rehabilitation proceedings application and any court decisions on it.
• Whether the company resolves its improvement plan for disclosure non-compliance and the outcome of its shareholders' meeting, with the amended notice filed October 21.
• Any new financing, asset sales, or lawsuit outcomes, given cash of only ₩0.1B against ₩1.4B of borrowings.