Add preferred source
South Korea’s Financial Supervisory Service (FSS) will begin providing listed companies’ regular shareholder meeting agendas and detailed information in data format through Open DART starting next year. Basic information such as meeting date, venue, record date, and whether electronic voting is available, along with summary information for all agenda items, will be provided under major and sub-category classifications. Key agenda items that draw high investor interest—including director appointments, compensation limit approvals, charter amendments, and financial statement approvals (dividends)—will include detailed information. The initiative aims to enable institutional investors to quickly review agenda items and exercise voting rights without opening each convocation notice individually. Additionally, in preparation for K-IFRS No. 1118, scheduled for adoption in fiscal year 2027, the FSS plans to overhaul the XBRL taxonomy and sequentially provide segmented data by major footnote categories through the Open DART API.
Key Elements
South Korea’s Financial Supervisory Service (FSS) will provide listed companies’ regular shareholder meeting agendas and detailed information in data format through Open DART, its disclosure information open-access service. The measure is designed to allow institutional investors to grasp key agenda items at a glance and quickly assess whether to exercise voting rights without opening each convocation notice individually.
The FSS announced on the 13th that it is pursuing “Open DART improvements and XBRL (eXtensible Business Reporting Language, the international standard computer language for financial reporting) taxonomy overhaul” to enhance convenience for investors analyzing and utilizing disclosure information. The core focus is expanding Open DART services—previously centered on annual business reports and material event reports—to include shareholder meeting-related disclosure documents.
Open DART is an open-access service that allows users to easily identify key information without opening disclosure documents one by one in the existing DART (Data Analysis, Retrieval and Transfer) system. Under the improvement plan, basic information such as meeting date and venue, record date, and whether electronic voting is available will be provided, along with summary information for all agenda items submitted, organized by major and sub-category classifications.
For key agenda items that draw high investor interest and are frequently submitted—including director appointments, compensation limit approvals, charter amendments, and financial statement approvals (dividends)—the FSS plans to provide detailed information enabling users to understand the specific content.
An FSS official said, “As regular shareholder meetings of listed companies have been concentrated in specific periods, institutional investors have faced difficulties in thoroughly reviewing agenda items and exercising voting rights due to time constraints. Going forward, we expect this to significantly reduce the time required for agenda review, while also supporting efficient management of shareholder meeting schedules and the formulation of voting strategies.”
In tandem, the FSS will also improve the convenience of searching shareholder meeting convocation notices on the DART website. The plan includes clearly distinguishing between regular and extraordinary shareholder meetings in the disclosure list and adding a table of contents for agenda items within convocation notices to make it easier to locate specific items.
The FSS plans to make these Open DART improvements available for regular shareholder meetings held starting next year. To this end, it will consult with relevant institutions including the Financial Services Commission, the Ministry of Justice, the Korea Exchange, and the Korea Securities Depository, and gather feedback from disclosure users to complete system development and form revisions within this year.
Segmented Provision of XBRL Footnote Data
Efforts to enhance the usability of XBRL footnote information—the international standard for financial disclosure—are also underway. XBRL is an international standard computer language for financial reporting optimized for machine readability, enabling information users to more easily obtain and analyze financial data compared to conventional disclosure methods.
To proactively respond to K-IFRS No. 1118 (including income statement revisions), scheduled for adoption from fiscal year 2027, the FSS plans to faithfully incorporate the global standard taxonomy (IFRS 18) and establish standard account titles reflecting South Korea’s unique disclosure environment, thereby simultaneously improving consistency and standardization rates.
In particular, the FSS will improve XBRL footnote data, which has been difficult to analyze precisely because it was provided at the individual company level or in large-volume file units. Data will be segmented by major footnote categories such as property, plant and equipment, and provided sequentially through the Open DART API. This will allow users to extract only the information they need and easily compare and analyze data across companies.
The new XBRL taxonomy will be released within this year to ensure the stable adoption of K-IFRS No. 1118 disclosures, with segmented data provision by major footnote categories to begin next year.
An FSS official stated, “We will continue to identify and improve disclosure forms so that the intent of various shareholder protection measures is reflected in corporate management. In line with the recent increase in AI technology utilization, we will also progressively build a foundation for generating, managing, and utilizing AI-ready disclosure data.”
