S.Korea to build new English disclosure system

South Korea’s Financial Supervisory Service (FSS) announced on Feb. 18 that it will broaden the scope of its English electronic disclosure services for listed companies.

It’s part of a strategic roadmap aimed at enhancing the Data Analysis, Retrieval, and Transfer System (DART), which functions as a central repository for the nation's corporate filings.

Launched in July last year, the FSS's English electronic disclosure system enables immediate access to essential documents, including business reports, in English.

The FSS's expansion strategy for 2024 involves not only increasing the volume of English content but also developing an "English Open Electronic Disclosure System" specifically designed for the detailed analysis of disclosure information.

Currently, the system offers standardized content—such as legal disclosure indexes, tables, and selectable inputs—in English, facilitating international investors' and analysts' understanding of South Korean corporate activities.

To further bridge the language gap, future updates will include the automatic translation of Korean disclosures' indexes and formats into English, offering these translations in real time.

Enhancements to the system's integrated search capabilities are also on the agenda, with improvements aimed at simplifying searches by report titles and other criteria.

A notable feature under development is a quick selection tool, designed to grant users swift access to reports, even without prior knowledge of the English report titles.

The system will soon include sections dedicated to public information on equity, debt, and derivative-linked securities.

The forthcoming English Open Electronic Disclosure System will mirror its South Korean counterpart in terms of content but will present menus and forms in English to cater to a global audience.

This system will make a wide array of documents publicly accessible, including business reports, significant matters reports, equity disclosures, and securities filings.

To facilitate these advancements, the FSS intends to engage external experts through a public competitive bidding process, signaling the start of a new phase in system development aimed at enhancing transparency and accessibility of South Korean corporate information on a global scale.

Write to Han-Gyeol Seon at always@hankyung.com