From Next Year, Large KOSPI Listed Companies' Disclosure Information Will Also Be Provided in English

From now on, disclosure information of listed companies on the securities market with a certain asset size or more will also be available in English.

On the 17th, the Financial Services Commission announced that for KOSPI-listed companies with assets of 10 trillion won or more, starting next year, when submitting important information disclosures in Korean to the Korea Exchange, they must also submit English disclosures within 3 days.

The additional English disclosures will cover settlement-related matters such as cash and in-kind dividends, major decision-making, and matters involving trading suspensions.

To support English disclosures, the Exchange has expanded its translation support services with professional translation companies and added functions to guide the mandatory English disclosure process. Additionally, starting from the 18th, it will provide the 'Korea Exchange-Papago Disclosure Dedicated Artificial Intelligence (AI) Translator,' jointly developed with Naver Cloud. This translator can be used by disclosure officers of listed companies for initial draft translations of English disclosures. It is also intended to help foreign investors more easily verify the contents of Korean disclosures.

The Financial Supervisory Service (FSS) has added a function to guide the obligation to submit English disclosures when listed companies submit statutory disclosures (common items of major event reports) using the electronic disclosure system editor. The FSS plans to improve the English electronic disclosure system so that when statutory disclosure documents are submitted in Korean, the table of contents and formats will be automatically converted into English. Furthermore, it plans to build an English service for 'Open DART,' a major disclosure information provision service.

The financial authorities and the Exchange plan to enhance the AI translator system and expand translation support services by professional translation companies to ensure the smooth implementation of the first phase of mandatory English disclosures.

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