Our new regulatory updates for March and May cover 2 hot topics for business leaders:
ESG and data protection.
Early 2021, the Financial Services Commission has initiated a mandatory disclosure of ESG information, to be implemented in stages for listed companies during the period 2025-2030. This requirement is part of the recent plan by the regulator to improve corporate disclosure system in Korea.
Regarding data protection, business leaders have been pleased to hear about the expected adequacy between Korean and European regulations on data protection. The official decision, expected by end of the year, will ease the transfer of data between Korea and European Union countries.
Other topics covered by our letter are more of a technical nature, covering tax, payroll and auditor’s appointment committee.
We hope you enjoy reading this regulatory update.