Cammsys said on Wednesday that it will cancel its plan to list its subsidiary Cammsys Global on KOSDAQ.
Cammsys Global was formed as a special purpose company in June to list Cammsys Vietnam on the Korean bourse.
Cammsys Vietnam was formed in 2014 and operates a camera factory in Vietnam.
The company initially aimed to list the company on the exchange in Vietnam and changed course for a listing in South Korea.
A Cammsys spokesperson said the company turned in application for a listing on KOSDAQ to the Korean exchange in December last year but COVID-19 has delayed review of local facilities.
They said the company may still list Cammsys Global in South Korea and Singapore, as well as other countries.
The global camera module market is expected to grow despite COVID-19, the spokesperson said. There will be no effect on shareholders’ value next year from new businesses, they said.