345 Companies with Mandatory Governance Disclosures Exceeding 1 Trillion KRW in Assets... 130 More Than Last Year

[Image source=Yonhap News]

[Asia Economy Reporter Lee Myunghwan] The number of companies required to submit governance reports last year increased by 130 from the previous year, totaling 345 companies. This appears to be due to the expansion of the mandatory submission target to companies with total assets of 1 trillion won or more starting this year.

The Korea Exchange announced on the 1st that it received the 2021 fiscal year governance reports from 345 listed companies on the KOSPI market. Among the companies required to submit, 304 are general listed companies, and 41 are financial companies.

All companies subject to mandatory submission completed their disclosures by the deadline of the 31st of last month. Starting this year, the mandatory submission target was expanded to companies with total assets of 1 trillion won or more, resulting in 130 companies newly disclosing reports compared to last year. Until last year, only companies with total assets of 2 trillion won or more were required to submit reports.

In addition to companies subject to mandatory submission, 8 companies voluntarily disclosed corporate governance reports. These companies are ▲ Gyeongdong City Gas ▲ Hansol PNS ▲ Hansol Technics ▲ DB ▲ POSCO Steelion ▲ Hansol Holdings ▲ Hansol Logistics ▲ Hansol Home Deco.

The Exchange plans to conduct a full inspection of the disclosed reports and request corrections for reports that do not meet disclosure standards to encourage thorough entries. In particular, it will carefully examine omissions and errors in accordance with the corporate governance report guidelines revised last March.

Listed companies that provide thorough disclosure content will be selected and awarded as excellent disclosure corporations.

The obligation to disclose governance reports is expected to continue expanding. This year, companies with total assets of 1 trillion won or more were required to disclose, but in 2024, the threshold will be lowered to companies with total assets of 500 billion won or more. Subsequently, in 2026, all companies listed on the KOSPI market will be required to disclose governance reports.

An Exchange official stated, "Through the obligation to disclose governance reports, we expect to strengthen the protection of shareholders' and investors' rights and interests and lay the foundation for establishing an ESG (Environmental, Social, Governance) management culture in our capital market."

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