Regulatory Alerts2025-07-09 | 84905Mandatory Corporate Governance Disclosure Duty Expanded to All KOSPI-listed Firms from 2026
The Financial Services Commission approved a revision to Korea Exchange disclosure rules requiring all KOSPI-listed firms to submit mandatory corporate governance reports starting in 2026. This expansion increases the number of subject companies from 541 to 842, shifting the system from a voluntary or large-cap-only model to a comprehensive 'comply or explain' framework. To support this transition, the Korea Exchange and the Korea Listed Companies Association will provide preparatory guidance, consultations, and training for compliance and executive officers.
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All KOSPI-listed Firms to be Subject to Mandatory Corporate Governance Disclosure Duty from 2026 Jul 09, 2025
The Financial Services Commission held the 13 th regular meeting on July 9 and approved a partial revision to the Korea Exchange (KRX) disclosure rules expanding the duty of mandatory disclosure of corporate governance report to all KOSPI-listed firms from 2026.
In a “comply or explain” approach, the disclosure of corporate governance report allows businesses to open up their compliance status on key corporate governance principles. It was first introduced in 2017 as a voluntary disclosure and has moved to a mandatory disclosure system with more and more companies becoming subject to the mandatory disclosure duty.
With the revision of the KRX disclosure rules, this mandatory disclosure of corporate governance report will be expanded to all KOSPI-listed companies from 2026. This will increase the number of firms being subject to the mandatory corporate governance disclosure duty from 541 now (those with total assets worth KRW500 billion or more, as of end-2024) to 842 (all KOSPI-listed firms, as of end-2024). With the expansion of corporate governance disclosure duty, it is expected that there will be more voluntary efforts taken by businesses to make improvements to their governance structures. It is also expected to help boost transparency in corporate management practices.
To facilitate a seamless transition, the KRX and the Korea Listed Companies Association plan to provide support through (a) preparatory guidance, (b) one-on-one consultation, (c) on-the-job training for compliance officers and executive officers, and (d) regional information sessions and workshops.
The FSC and the KRX will continue to work to ensure a seamless transition in expanding the duty of mandatory disclosure of corporate governance report.
- Please refer to the attached PDF for details.
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