Business News and Headlines

Korea Plans Mandatory Sustainability Reporting Beginning in 2028

South Korea’s Financial Services Commission unveiled a draft roadmap that will make sustainability reporting mandatory for large listed firms starting in 2028, using 2027 data. The new standards align closely with the IFRS Foundation’s ISSB IFRS S1 and S2 requirements, covering general and climate‑related disclosures. Companies with assets over KRW 30 trillion must report first, with a lower threshold introduced a year later and smaller firms phased in later. The plan also extends the ISSB’s Scope 3 relief to three years and makes third‑party assurance optional initially.