CJ CGV, SK Innovation, Kakao and 8 Other Companies Selected as Excellent Disclosure Corporations by the Exchange

Selected After Quantitative and Qualitative Evaluation Based on Last Year's Public Performance Data

On the 9th at 10:30 AM, the Korea Exchange held an award ceremony in the main conference room of its Seoul headquarters, selecting 11 companies, including Hanwha Systems, as the 2020 Disclosure Excellence Corporations in the KOSPI Market based on the first quantitative evaluation and the second qualitative evaluation processes using the 2020 disclosure performance data.

[Asia Economy Reporter Gong Byung-sun] Eleven companies, including CJ CGV, SK Innovation, and Kakao, have been selected as Excellent Disclosure Companies in the KOSPI market.

On the 9th, the Korea Exchange announced the 11 companies selected as the "2020 KOSPI Market Excellent Disclosure Companies." These 11 companies were chosen based on their disclosure performance last year, undergoing a first quantitative evaluation and a second qualitative evaluation before being designated as Excellent Disclosure Companies.

The Exchange selected eight companies as Excellent Disclosure Companies: CJ CGV, SK Innovation, LS ELECTRIC, Yuhan Corporation, TBH Global, POSCO Chemical, Hanwha Systems, and Hyundai Rotem.

CJ CGV was selected as an Excellent Disclosure Company by managing disclosure risks using a disclosure management system manual and conducting continuous monitoring and work sharing through relevant regulations. SK Innovation produced its own disclosure guidebook and regularly conducted training for related department personnel. Additionally, it established an internal internet education system to provide disclosure education content to all employees, which was highly evaluated. LS ELECTRIC has built and utilized a pre-contract monitoring system related to disclosures and checks the performance of disclosure officers through an internal accounting control system.

For English disclosure excellence, three companies?Kakao, Korea Aerospace Industries, and Hanwha?were selected. Last year, only one company was selected, but this year the number increased to three to promote English disclosures. Kakao established an internal system to conduct English disclosures on the same day as Korean disclosures to alleviate information asymmetry between domestic and overseas investors. Korea Aerospace Industries continuously expanded personnel related to English disclosures and actively enhanced communication with overseas investors and the market. Hanwha was highly evaluated for implementing ESG (Environmental, Social, and Governance)-focused management policies to deliver disclosure information quickly and accurately to overseas investors and for maintaining continuous communication with domestic and international investors.

Excellent Disclosure Companies are exempt from annual fees and listing fees for one year after selection. The total annual fees exempted for the 11 companies amount to approximately 110 million KRW. Furthermore, designation as a non-compliant disclosure company is deferred once for three years, and they also receive exemption from annual education completion requirements.

Im Jae-jun, Head of the KOSPI Market Division, said, "We express our gratitude to the listed companies that have diligently fulfilled their disclosure obligations despite the challenging business environment caused by COVID-19," and added, "We hope they will continue to contribute to enhancing the soundness and reliability of the securities market by fostering a culture of sincere disclosure."

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