Fair Trade Commission Launches Pilot Public Service for Corporate Group Portal... Easier Disclosure of Large Corporation Information

Expansion of Functions Including Time Series Analysis and Graph Visualization... Official Launch on the 29th

[Asia Economy Reporter Moon Chaeseok] The Fair Trade Commission announced that it has completed the advancement project of the Corporate Group Portal System and started a pilot operation of the public service from the 3rd.

The Corporate Group Portal System is a system where the Fair Trade Commission receives, manages, and analyzes corporate disclosure-related data from large corporate groups and holding companies, and discloses the data to the general public.

The Fair Trade Commission completed the first phase of the project from July 4, 2018, to March last year, and has been conducting the second phase since August 12 last year.

In the first phase, the existing Fair Trade Commission’s data submission system and corporate group disclosure system were integrated and improved. In this second phase, after listening to opinions from corporations and others following the first phase, functions such as preventing duplicate submission of audit reports were supplemented.

First, it was improved to provide information in various ways such as time series analysis and graph visualization.

Statistical data that can be viewed in time series by topic are provided, including corporate group designation, finance, business performance, internal shareholding ratio of corporate groups, changes in debt guarantees, holding companies, and the total debt status of corporate groups.

Information on companies belonging to corporate groups and holding companies is additionally provided in the form of an Open Application Programming Interface (Open API) through the Public Data Portal. This is to enable developers and users to develop various services.

The Fair Trade Commission strengthened its internal information analysis functions. Corporate group data was converted into a database (DB), making data transformation and processing easier. Thanks to this, information can be analyzed efficiently and data can be verified.

An automated information disclosure process system was also established. Previously, corporate group data had to be uploaded to the system one by one for public disclosure, but now the data is DB-ized internally within the Fair Trade Commission to automatically generate and disclose the data.

The Fair Trade Commission plans to pilot the system until mid-month, gather user feedback, supplement the system, and officially open it on the 29th.

A Fair Trade Commission official expressed expectations, saying, "With the launch of this service, the public’s right to know as well as the convenience and work efficiency of internal and external users will greatly improve."

This content was produced with the assistance of AI translation services.