Apr 1, 2023
South Korea to Expand English Filing Requirement for Kospi Firms
(Bloomberg) -- South Korea’s financial regulator said some of the large companies that are members of the benchmark Kospi index should submit their key regulatory filings in English within three days of their Korean submissions.
Starting in 2024, companies with at least 10 trillion won ($7.7 billion) in assets will be required to submit filings related to dividends, rights issuances, treasury share cancellations and other crucial information in English within the stated time period, the Financial Services Commission and bourse operator Korea Exchange said in a joint statement Sunday.
About 106 companies, or 13% of Kospi-listed firms, will meet the requirement.
The mandate on English filings will be expanded in 2026 to include Kospi companies with at least 2 trillion won in assets.
South Korea wants to improve access of its stock markets to foreign investors and make its capital market more attractive to global funds amid a ramp-up in efforts to join a key stock index.
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