Exchange Holds Briefing Session on Revised Corporate Governance Report Guidelines

The Korea Exchange recently announced on the 16th that it will hold an 'Explanation Session on the Revision of the Corporate Governance Report Guidelines' following the revision of the corporate governance report guidelines and the reorganization of the governance inspection system.

During this session, explanations will be provided on the background of the guideline revisions, key changes, actual report preparation methods, as well as details on the reorganization of the governance inspection system.

The sessions will be held five times in total, starting in Daegu on the 16th, followed by Seoul on the 20th, Daejeon on the 23rd, Busan on the 24th, and Seoul again on the 25th. Additionally, an online session will be conducted over two days starting from the 30th via the Korea Listed Companies Association website.

For each company’s disclosure officers, two hours of offline training and one hour of online training will be recognized as mandatory education. Related session materials will be posted on the Exchange’s ESG portal and other platforms on the 1st of next month.

Alongside this, the Exchange is also planning additional training related to the expansion of the corporate governance report submission obligation and the introduction of the XBRL (eXtensible Business Reporting Language), an international standard computer language for corporate reporting designed to efficiently generate, exchange, and compare complex corporate information disclosure systems.

Starting next year, the obligation to submit corporate governance reports will be expanded to KOSPI-listed corporations with total assets of 500 billion KRW or more. Accordingly, three training sessions will be conducted for newly obligated listed companies.

A Korea Exchange official stated, "Since the corporate governance reports submitted in 2024 will be transitioned to the XBRL disclosure format (planned), we intend to actively support listed companies so they can handle their tasks according to the changed system," adding, "We will ensure the successful establishment of the XBRL system."

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