Financial Watchdog to Broaden English Corporate Disclosure for International Investors
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Synopsis
On February 9, South Korea's financial supervisory agency announced plans to expand English corporate disclosures to enhance foreign investors' access to crucial information. The initiative includes new platforms and improved services, aiming to attract more international investors and support the local stock market.
Key Takeaways
- Expansion of English corporate disclosure by the FSS.
- Launch of a new English data platform.
- Increased accessibility to corporate information for foreign investors.
- Plans for a dedicated infrastructure for English disclosures by 2025.
- Efforts to enhance communication with parliament regarding capital market reforms.
Seoul, Feb 9 (NationPress) South Korea's financial supervisory authority announced on Sunday its plan to broaden the availability of corporate data in English to enhance foreign investors' access to crucial disclosures.
The Financial Supervisory Service (FSS) revealed that additional content will be accessible on its English disclosure portal (https://englishdart.fss.or.kr) starting Monday, alongside the launch of a new English data platform (https://engopendart.fss.or.kr).
The FSS stated that these initiatives will facilitate foreign investors in easily obtaining corporate disclosure information, allowing for real-time data gathering and analysis, as reported by Yonhap news agency.
Users of the system can review fixed information like indices, tables, and optional input values for all mandatory disclosures, inclusive of business reports in English.
Moreover, they can search for information not solely by a company's name but also by report names, making it easier to find relevant data.
The watchdog also announced the forthcoming launch of an open English platform, named English Open DART, which will feature over 80 types of English disclosure information alongside extensive data on the financial statements of all listed companies.
There has been a significant increase in the utilization of English disclosure services by foreign investors over the past three years, and the FSS believes that the enhanced English disclosure services will draw in even more users.
The FSS aims to establish a dedicated infrastructure for English disclosures by the second half of 2025, ensuring a system characterized by high reliability and low latency.
In the meantime, Acting President Choi Sang-mok has stressed the necessity of effective communication with parliament to accelerate the approval of a bill intended to bolster the nation's capital markets.
The revised bill, which recently did not pass, includes provisions for tax reductions for high-performing companies and a distinct taxation scheme for dividend income generated by investors in these firms.
This is part of the government's initiative to enhance corporate value, launched in June, which aims to motivate listed companies to improve their market valuation and overall local stock market performance.
