Hanryu Holdings Common StNASDAQ: HRYU

Seoul, Republic of South Korea, May 24, 2024 (GLOBE NEWSWIRE) -- Hanryu Holdings, Inc. (NASDAQ: HRYU) (“Hanryu” or the “Company”), a media-tech company and creator of FANTOO, an all-in-one social media experience connecting k-culture fans globally, today announced that on May 21, 2024, it received a delinquency compliance alert notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) advising the Company that due to the Company's failure to timely file its Quarterly Report on Form 10-Q for the period ended March 31, 2024 and because the Company remains delinquent in filing its Form 10-K for the year ended December 31, 2023 with the Securities and Exchange Commission (the “ SEC ”), the Company is not in compliance with Nasdaq's continued listing requirements under Nasdaq Listing Rule 5250(c)(1), which requires the timely filing of all required periodic reports with the SEC.

The artificial intelligence (AI) race is far from over, with a number of under-the-radar companies continuing to see impressive price appreciation on AI-related announcements. Today's big move in this regard belongs to Hanryu Holdings (NASDAQ: HRYU ), a little-known South Korean social media company.