Korea Listed Companies Association prepares firms for ESG disclosure rules

The Korea Listed Companies Association announced Monday it will hold a two-day education session for ESG disclosure officers Tuesday and Wednesday in preparation for the mandatory sustainability disclosure regime set to take effect the year after next.

Under the final ESG disclosure framework announced by the government and the Democratic Party of Korea at a party-government consultative meeting on July 8, KOSPI-listed companies with consolidated total assets of 10 trillion won ($7.45 billion) or more will be required to disclose ESG information through their annual business reports starting in 2028. The scope will expand in 2029 to cover KOSPI-listed companies with consolidated assets of 5 trillion won or more.

In response, the association has prepared an education program titled "Key Practical Issues ESG Disclosure Officers Need to Know Now," which will address core practical issues to help eligible companies prepare for sustainability disclosure requirements.

The association has long provided specialized disclosure education to its member companies and has proactively offered ESG disclosure training since 2021. As a result, a total of 1,415 people from 679 companies have completed the relevant training to date, including 78 of the 107 companies (on a consolidated basis) subject to the 2028 ESG disclosure requirement — a participation rate of 72.9 percent.

The association also earlier published an "Electronic Shareholders' Meeting Operations Manual" to provide practical support for the mandatory electronic shareholders' meeting system.

The manual covers the legal basis and interpretation of the electronic shareholders' meeting system, general principles for the preparation stage, standards for attendance verification and voting rights exercise, fairness-enhancement measures for day-of operations and technical requirements, response protocols for emergencies such as communication failures, and standards for the preservation, storage and inspection of records. The manual will be distributed to member companies through the association's website and other channels.