South Korea consults on ISSB-based sustainability reporting roadmap
South Korea joins the jurisdictions mapping out how global sustainability standards could enter national reporting rules. The Financial Services Commission has launched a consultation on a draft roadmap that would introduce sustainability disclosures based on standards developed by the Korean Sustainability Standards Board, themselves aligned with the International Sustainability Standards Board (ISSB) framework.
Under the proposal, companies listed on the Korea Composite Stock Price Index with consolidated assets of KRW 30 trillion or more would begin reporting under KSSB 1 (General Requirements) and KSSB 2 (Climate-related Disclosures) from fiscal year 2027, with the scope expanding to companies with assets of KRW 10 trillion or more from 2028. Smaller subsidiaries would initially be exempt, as would small companies in the value chain, while Scope 3 emissions disclosures would only become mandatory from 2030.
Assurance would start as a voluntary exercise during the early implementation phase, although regulators say they will consider moving to mandatory assurance later, in line with global trends. The consultation runs until 31 March 2026.
Read more (in Korean) here.
