Korea Exchange Provides Disclosure System Establishment Consulting for KOSDAQ Listed Companies

Preventing Incomplete Disclosures and Strengthening Disclosure Capabilities

The Korea Exchange announced on the 2nd that it will conduct the '2024 Consulting for Establishing the Disclosure System of KOSDAQ Listed Companies.' The purpose is to prevent insincere disclosures by companies listed on the KOSDAQ market and to support the strengthening of disclosure capabilities.

Korea Exchange, Yeouido, Seoul. Photo by Jinhyung Kang aymsdream@

The consulting targets all listed companies wishing to participate. The scale of the program has been expanded to a total of 100 companies, up from 80 last year. If the number of applicants exceeds 100, priority will be given to newly listed companies or companies with insincere disclosures that have a higher need for consulting.

The consulting will be conducted through both online and on-site sessions. Considering the demand for face-to-face consulting from listed companies, the proportion of on-site consulting will be increased from 50% (40 companies) last year to 75% (75 companies) this year. After a preliminary analysis of each company through disclosure history and business reports, a one-on-one customized diagnosis of the disclosure system will be provided along with improvement measures.

Education to raise disclosure awareness among executives and employees of participating companies will also be conducted. Through this, exemption benefits from mandatory education completion will be granted to disclosure officers and those responsible for disclosures.

Notably, this year’s consulting includes a pilot test for establishing an internal control system to prevent embezzlement and breach of trust arising from deficiencies in internal control systems such as management decision-making and funds. The pilot test will be conducted with about 10 companies selected from the 75 companies receiving on-site consulting this year.

The Korea Exchange plans to select companies for the disclosure system establishment consulting next month, provide guidance and application procedures to listed companies, and proceed with the consulting after April.

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