The Financial Supervisory Service opened an English disclosure website to enhance foreign investors' access to disclosure.
On the 9th, the FSS launched an 'English open data platform' that provides 83 types of English disclosure data, including disclosure information, business reports, material report, equity disclosures, and securities registration statements. This is in accordance with the government's phased expansion plan for enhancing foreign investors' access to capital markets, announced in January 2023.
With this platform, foreign investors can download the original disclosure in real time. They can also select the desired information through a web browser and receive it in Excel format. A service that provides the full international standard computer language (XBRL) notes for all listed companies as big data has also been newly established.
The FSS also improved the English DART system. In the future, standardized content such as the table of contents, charts, forms, and selectable input values for all statutory disclosures, including business reports, will be provided in English. Accordingly, the FSS expects a reduced reliance on artificial intelligence (AI) translators.
The search convenience of English disclosures has been enhanced, including the strengthening of the English DART disclosure search and optimization of the English query function. Previously, searches could only be done by company name in the existing English DART, but this improvement allows for searching by report name, just like in the Korean DART. A quick selection function has been added to allow the selection of suggested report names even if the exact English report name is not known.
In the English DART, separate categories for public offering information related to equity, debt, and derivatives have been established. An 'Offering Bulletin' English item has been added, which provides information on the issuing company and subscription date for registration statements that are currently under subscription or are scheduled for subscription.
A 'Subscription Calendar' has been translated into English so that monthly subscription status can be viewed at a glance, and the 'Recruitment and Sales Performance' related to stocks and bonds, utilizing the contents of the issuance performance report, has also been translated into English.
The FSS noted, 'We expect this to help resolve the Korea discount, given that the scope of English disclosure information has broadened,' and 'We will establish a dedicated infrastructure for English DART by the second half of the year.'