Item 8.01 Other Events.

On October 6, 2020, e-Marine Co., Ltd (KR), a Korean corporation and subsidiary of eMarine Global Inc., pursuant to Sections 305, 306 and 549 of the Debtor Rehabilitation and Bankruptcy Act, filed for bankruptcy with, and was declared bankrupt by, the Seoul Bankruptcy Court. e-Marine Co., Ltd (KR) has experienced a shortage of business opportunities in the South Korea maritime field, notably government-ordered projects, due to the novel coronavirus (COVID-19) pandemic. Accordingly, e-Marine Co., Ltd (KR) has discontinued operations and has been deemed incapable of repaying its outstanding debt.

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