Korea Exchange asks 175 firms to disclose information in English
By 임정요Published : May 8, 2016 - 14:24
South Korea's main bourse said on Sunday it has asked 175 of listed companies to disclose key management decisions and other information in English starting this week, a move meant to boost foreign shareholders' value.
The 175 firms, or about 23 percent, of all 769 companies listed on the main stock exchange are also asked to release earnings results, forecasts and investment decisions in English from Monday in its own KIND regulatory filing system, the Korea Exchange said in a statement.
"There have been requests from foreign investors for the adoption of the English disclosure system in Korea. They have called for equal treatment to be given as their Korean counterparts when they make an investment decision here," a KRX official said.
Foreign investors' registrations with the Financial Supervisory Service jumped to 41,927 at the end of March from 31,060 at the end of 2010. Foreign shareholdings in the main stock market reached 412 trillion won ($357 billion), or 32.5 percent of total market capitalization, at end-March, the statement said. (Yonhap)