Exchange Revises Enforcement Rules for Disclosure Regulations Related to Delisting System Improvement

The Korea Exchange has revised the enforcement rules related to disclosures for companies undergoing delisting review as part of improvements to the initial public offering (IPO) and delisting systems.

On the 31st, the Korea Exchange announced that it amended the enforcement rules of disclosure regulations for the KOSPI, KOSDAQ, and KONEX markets to establish a basis allowing companies under substantive delisting eligibility review to disclose key details of their improvement plans if granted an improvement period. This is part of the system improvement measures announced by the Korea Exchange at the 'IPO and Delisting System Improvement Joint Seminar' held last January.

However, specific management secrets that are inappropriate for public disclosure, such as M&A (mergers and acquisitions), are excluded from disclosure requirements.

The Korea Exchange explained the significance of the enforcement rule revision, stating, "In addition to the market guidance provided by the Exchange regarding the review procedures during the substantive delisting eligibility review period, providing key details of the company's improvement plan is expected to contribute to investor protection."

The revised enforcement rules for disclosure regulations will take effect from July 1, and will apply to companies granted an improvement period after the effective date.

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