UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934

Release No. 81649 / September 18, 2017

ADMINISTRATIVE PROCEEDING

File No. 3-18188

In the Matter of 

Meridian Co., Ltd.,

Respondent.

ORDER INSTITUTING ADMINISTRATIVE 

PROCEEDINGS AND NOTICE OF HEARING 

PURSUANT TO SECTION 12(j) OF THE 

SECURITIES EXCHANGE ACT OF 1934

I.

The Securities and Exchange Commission (“Commission”) deems it necessary and 

appropriate for the protection of investors that public administrative proceedings be, and hereby 

are, instituted pursuant to Section 12(j) of the Securities Exchange Act of 1934 (“Exchange 

Act”) against the respondent named in the caption.

II.

After an investigation, the Division of Enforcement alleges that:

A. RESPONDENT 1

1. Meridian Co., Ltd. (“MRDAF”) (CIK No. 1135174) is a Republic of Korea

corporation located in Gyeonggi-Do, Korea with a class of securities registered with the 

Commission pursuant to Exchange Act Section 12(g). MRDAF is delinquent in its periodic 

filings with the Commission, having not filed any periodic reports since it filed a Form 20-F for 

the period ended December 31, 2011. As of September 13, 2017, the common stock of MRDAF

was quoted on OTC Link operated by OTC Markets Group, Inc. (formerly “Pink Sheets”), had 

seven market makers, and was eligible for the “piggyback” exception of Exchange Act Rule 

15c2-11(f)(3).

 

1 The short form of the issuer’s name is also its ticker symbol. 
2

B. DELINQUENT PERIODIC FILINGS

2. As discussed in more detail above, the Respondent is delinquent in its periodic 

filings with the Commission, has repeatedly failed to meet its obligations to file timely periodic 

reports and failed to bring its filings current in response to the delinquency letter sent to it by the 

Division of Corporation Finance requesting compliance with its periodic filing obligations.

3. Exchange Act Section 13(a) and the rules promulgated thereunder require issuers 

of securities registered pursuant to Exchange Act Section 12 to file with the Commission current 

and accurate information in periodic reports, even if the registration is voluntary under Section 

12(g). Specifically, Rule 13a-1 requires issuers to file annual reports. 

4. As a result of the foregoing, the Respondent failed to comply with Exchange Act 

Section 13(a) and Rule 13a-1 thereunder.

III.

In view of the allegations made by the Division of Enforcement, the Commission deems 

it necessary and appropriate for the protection of investors that public administrative proceedings 

be instituted to determine: 

A. Whether the allegations contained in Section II hereof are true and, in connection 

therewith, to afford the Respondent an opportunity to establish any defenses to such allegations; 

and,

B. Whether it is necessary and appropriate for the protection of investors to suspend 

for a period not exceeding twelve months, or revoke the registration of each class of securities 

registered pursuant to Section 12 of the Exchange Act of the Respondent identified in Section II 

hereof, and any successor under Exchange Act Rules 12b-2 or 12g-3, and any new corporate 

names of the Respondent.

IV.

IT IS HEREBY ORDERED that a public hearing for the purpose of taking evidence on 

the questions set forth in Section III hereof shall be convened at a time and place to be fixed, and 

before an Administrative Law Judge to be designated by further order as provided by Rule 110 

of the Commission’s Rules of Practice [17 C.F.R. § 201.110].

IT IS HEREBY FURTHER ORDERED that the Respondent shall file an Answer to the 

allegations contained in this Order within ten (10) days after service of this Order, as provided by 

Rule 220(b) of the Commission’s Rules of Practice [17 C.F.R. § 201.220(b)].

If the Respondent fails to file the directed Answer, or fails to appear at a hearing after 

being duly notified, the Respondent, and any successor under Exchange Act Rules 12b-2 or 12g3, and any new corporate names of the Respondent, may be deemed in default and the 

proceedings may be determined against it upon consideration of this Order, the allegations of 
3

which may be deemed to be true as provided by Rules 155(a), 220(f), 221(f), and 310 of the 

Commission’s Rules of Practice [17 C.F.R. §§ 201.155(a), 201.220(f), 201.221(f), and 201.310].

This Order shall be served forthwith upon the Respondent by any means permitted by the 

Commission Rules of Practice.

IT IS FURTHER ORDERED that, pursuant to Rule 360(a)(2) of the Commission’s 

Rules of Practice, [17 C.F.R. § 201.360(a)(2)], the Administrative Law Judge shall issue an initial 

decision no later than 30 days from the occurrence of one of the following events: (A) The 

completion of post-hearing briefing in a proceeding where the hearing has been completed; (B) 

Where the hearing officer has determined that no hearing is necessary, upon completion of briefing 

on a motion pursuant to Rule 250 of the Commission’s Rules of Practice, [17 C.F.R. § 201.250]; or 

(C) The determination by the hearing officer that a party is deemed to be in default under Rule 155 

of the Commission’s Rules of Practice, [17 C.F.R. § 201.155] and no hearing is necessary. 

In the absence of an appropriate waiver, no officer or employee of the Commission 

engaged in the performance of investigative or prosecuting functions in this or any factually 

related proceeding will be permitted to participate or advise in the decision of this matter, except 

as witness or counsel in proceedings held pursuant to notice. Since this proceeding is not “rule 

making” within the meaning of Section 551 of the Administrative Procedure Act, it is not 

deemed subject to the provisions of Section 553 delaying the effective date of any final 

Commission action.

By the Commission.

Brent J. Fields

Secretary