Financial authorities plan to tighten rules on public disclosures of corporate governance in a bid to improve transparency, the top financial regulator said on Nov. 9.
Choi Jong-ku, chairman of the Financial Services Commission, made the remarks during a meeting with foreign institutional investors.
Currently, listed firms are advised to voluntarily make public disclosures of their corporate governance structure, but Choi indicated that they will be gradually required to do so.
“We will strengthen the public disclosure system of listed firms‘ corporate governance structure to help institutional investors easily figure out their corporate governance,” Choi said.
Assessments of corporate governance into each listed firm will be improved, he added.
By Alex Lee and newswires (firstname.lastname@example.org