All Korean listed firms will have to compulsorily disclose corporate governance reports from next year.
Companies with less than 500 billion won (US$362.9 million) of total assets are now allowed to disclose the reports voluntarily.
The number of companies that will be subject to compulsory disclosures will increase from 541 currently to 842 when the move becomes effective in January 2026, the Financial Services Commission (FSC) says in a statement on July 10.
“With the expansion of corporate governance disclosure duty, it is expected that there will be more voluntary efforts taken by businesses to make improvements to their governance structures,” the FSC says. “It is also expected to help boost transparency in corporate management practices.”
The financial regulator will provide preparatory guidance, workshops and consultations to facilitate seamless transition to mandatory disclosure.
