Financial Supervisory Service Joins IFRS Taxonomy Advisory Group... "Expecting Enhanced International Status"

The Financial Supervisory Service announced on the 1st that Kim Gap-je, Senior Investigator of the Electronic Disclosure Team in the Corporate Disclosure Bureau, has been officially appointed as a member of the IFRS Taxonomy Consultative Group (ITCG) of the IFRS Foundation.

The IFRS Taxonomy Consultative Group was established in 2014 to provide advice to the International Accounting Standards Board (IASB) regarding the IFRS accounting taxonomy. It is an international advisory group that builds digital international standard systems (taxonomy) related to financial statements and ESG (environment, social, governance), reflecting global market conditions. As of this date, it consists of 24 advisory members.

This appointment marks the first case of participation as an ITCG member from Korea. Senior Investigator Kim will serve as an advisory member representing Korea for two years.

An official from the Financial Supervisory Service stated, "By entering the advisory group that provides strategic advice on digitalization, a key issue of the IFRS Foundation recently, we will enhance Korea's international status," and added, "We expect this to be an opportunity to participate in discussions on the establishment of taxonomies related to international accounting standards and sustainability standards, reflecting domestic realities."

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