The South Korea Financial Services Commission (FSC), alongside the Financial Supervisory Service and the Korea Exchange (KRX), has published proposed measures to tighten corporate disclosure rules, combining an expansion of mandatory English disclosures with new requirements on annual general meeting (AGM) and executive compensation reporting to improve market accessibility for global investors and support shareholder rights. From 1 May 2026, mandatory English disclosures would move into phase II by extending coverage from KOSPI-listed companies with assets of KRW10 trillion or more to those with assets of KRW2 trillion or more, and by expanding required English disclosures to all KRX disclosure items (including material information, fair disclosure, and inquired disclosure). Submission timelines would also be shortened, with KRW10 trillion-plus companies expected to file English disclosures in principle on the same day as the Korean filing, while other KRW2 trillion-plus companies would have up to three business days. Supporting measures include expanded KRX translation assistance, an AI-developed English disclosure glossary and training, completion of the English DART platform by end-2025, and broader use of XBRL across industries and information types. Separately, starting with AGMs held in March 2026, companies would need to disclose voting results by agenda item, including percentages for assent, dissent, and abstention on the AGM day via KRX disclosure and expanded voting-result information in the business report; incentives would also be introduced to encourage companies to spread AGM dates into April. Executive pay disclosures would be enhanced by requiring three-year side-by-side disclosure of total shareholder return and operating profit, more detailed justification by compensation category, and fuller reporting of stock-based compensation including cash values for unfulfilled awards. The FSC plans to update securities issuance and disclosure regulations, with a comment period running from November 17 to December 8 and implementation targeted for the first half of 2026 following regulatory review and approvals; KRX rules would also be revised to support phase II English disclosure rollout. The FSC also flagged that phase III is expected in 2028 to cover all KOSPI-listed companies, while it considers extending English disclosures to legally mandated regulatory filings and potentially to large KOSDAQ-listed companies.
South Korea Financial Services Commission 2025-11-17
South Korea Financial Services Commission consults on expanding mandatory English disclosures and strengthening AGM and executive pay reporting for listed companies
The South Korea Financial Services Commission, with the Financial Supervisory Service and the Korea Exchange, proposed enhancing corporate disclosure rules, including expanded mandatory English disclosures and new requirements for annual general meeting and executive compensation reporting. From May 2026, English disclosure requirements will apply to KOSPI-listed companies with assets of KRW2 trillion or more, with shortened submission timelines and additional support measures. The FSC plans further updates to securities issuance and disclosure regulations, with phase III expected in 2028 to cover all KOSPI-listed companies.