"Foreign Investors to Benefit from Easier Disclosure Searches as English DART Content Expands"

English Open Data Platform Launches on the 10th
"Expanded English Disclosure... Expected to Resolve the Korea Discount"

Foreign investors will have expanded access to English electronic disclosure system (DART) content, allowing them to access disclosure information in real time at the same level as domestic investors. An English open data platform (Open DART) has also been established, enabling users to download original disclosure documents or directly extract desired items into Excel files.

The Financial Supervisory Service (FSS) announced on the 9th that it will improve the English DART so that foreign investors can check key statutory disclosure items in English in real time, and open a platform providing 83 types of English disclosure data.

Following the 2023 introduction of real-time English conversion of report titles immediately upon statutory disclosure occurrence, the scope of English application has been further expanded. Accordingly, foreign investors can now view the table of contents, tables, and forms (labels) of all statutory disclosures, including those from the Fair Trade Commission, as well as selectable input values such as types of registered executives and whether they are full-time, all in English. This allows foreign investors to access more accurate English disclosure information and reduce reliance on artificial intelligence (AI) translators.

Additionally, a quick selection feature has been newly introduced, and the English search function has been optimized to allow searching by report name, just like the Korean DART. Features such as the ‘Subscription Calendar,’ which clearly shows monthly subscription status, and ‘Subscription and Sales Performance’ related to stocks and bonds using the contents of issuance performance reports, are also provided in English.

Along with this, the FSS has newly built a platform that provides a total of 85 types of English disclosure information in data form, including 4 types of disclosure information, 35 types of business reports, 36 types of major event reports, 2 types of equity disclosures, and 6 types of securities registration statements. Once the 'Open DART' platform opens on the 10th, foreign investors will be able to directly extract desired items into Excel files from the web interface for their use. In particular, the method of information collection has been greatly improved by providing international standard computer language (XBRL) annotations for all listed companies as big data.

This measure follows the financial authorities’ judgment that although the use of English DART by foreign investors has increased significantly over the past three years, there are still many shortcomings in terms of the diversity and usability of English disclosure information. The number of English DART accesses increased from 10,589 in 2022 to 39,079 in 2023, and to 78,870 last year.

An FSS official explained, "Although the English DART system has been operating since 2023, the full text was disclosed in Korean, which could lead to misinterpretation when using AI translators," adding, "We have expanded the scope of English provision and improved the system to enhance convenience." The official also said, "The expanded range of English disclosure information will help resolve the Korea discount," and added, "In the second half of the year, we will establish dedicated infrastructure for English DART to provide fast and stable English DART services to foreign investors and strengthen the XBRL financial disclosure infrastructure."