이 누리집은 대한민국 공식 전자정부 누리집입니다.
Biz News Korea(Eng)
KRX to encourage Korean blue chips to add English public filings
- Collected
- 2016.03.14
- Distributed
- 2016.03.15
- Source
- Go Direct
KRX said that it is going to pick 169 firms among 770 Kospi-listed companies, about 20 percent of the all listed firms to ask them to disclose public filings in English when releasing Korean filings starting this month. Large conglomerates that are heavily invested by foreign investors, including Samsung Electronics Co., Hyundai Motor Co., Naver Corp., Korea Electric Power Corp., AmorePacific Corp., and LG Chem Ltd., will be subject to such a change.
The Korean bourse operator said overseas investors have been complaining about the lack of proper information in English that they can use when making investment decisions on Korean stocks. However, it will not oblige them to make English public filings. Instead, it will give incentives to the firms that provide investment information in English. Moreover, the bourse operator will be providing English public filing templates that companies can use, and only 174 disclosures of total 374 disclosure requirements that are highly important to international investors on making investment decisions are subject to English announcements.
KRX expects English public filings to provide more accurate information to about 40,000 foreign investors registered in Korea and attract more overseas-based firms to be listed with the Korean bourse. It also hopes that such a change could lure more overseas capital and increase a chance for Korea to join the MSCI’s advanced market index group.
By Han Ye-kyung and Yong Hwan-jin
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]