"Inquiries on Public Announcements, Now OK to Direct to the Association"… Financial Supervisory Service, Korea Listed Companies Association, and KOSDAQ Association Sign Unification Agreement

Establishment of a Customized Disclosure Support System
The Association Receives Inquiries and Provides Answers... Additional Inquiries Requiring Further Response Are Handled by the Financial Supervisory Service

Provided by Korea Listed Companies Association

[Asia Economy Reporter Minwoo Lee] The Financial Supervisory Service (FSS), the Korea Listed Companies Association, and the KOSDAQ Association have agreed to unify their responses regarding corporate disclosures. This means that corporate disclosure officers will no longer need to make duplicate inquiries about disclosures to multiple organizations.

On the 15th, the FSS, the Listed Companies Association, and the KOSDAQ Association announced that they had signed a business agreement to establish a tailored disclosure consultation support system.

Until now, corporate disclosure officers have separately inquired about disclosures to the FSS or each association. This led to concerns that responses from the FSS and associations could cause confusion due to differing answers from each institution. There were also concerns about psychological burden and lack of anonymity when inquiring with the FSS. To address this, the inquiry and response system has been unified.

According to this agreement, the initial inquiry channel will be unified through the associations. To facilitate this, the associations have revamped their websites and established dedicated wired and wireless consultation channels. Frequently asked questions (FAQ) based on recent inquiries and responses have also been organized and posted.

Inquiries regarding disclosure regulations and how to prepare disclosure documents will be directly answered by the associations to companies, while inquiries requiring further review will be forwarded to the FSS. The FSS will analyze the forwarded inquiries and respond directly to the companies. The response content will be regularly shared with the associations. Additionally, the FSS plans to collaborate with the associations by providing disclosure system training to association staff.

A representative from the Listed Companies Association stated, "With this system in place, disclosure officers will be able to make inquiries more smoothly," adding, "Through collaboration between the FSS and the associations, we expect to improve consultation quality and promptly collect disclosure officers’ difficulties to reflect them in system improvements."

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