KaKao

- Korea has been selected as “Excellent English Disclosure Corporation” by KRX for three consecutive years since 2019 for the first time in the Korean securities market.

- Financial statements published in English help foreign investors access financial information and resolve information asymmetry between domestic and foreign investors.

 

[Mar 10, 2022] Kakao (Co-CEOs Yeo Min-soo and Joh Su-yong) announced on the 10th that it has been selected as ‘Excellent English Disclosure Corporation’ for 2021 by the Korea Exchange (KRX).

 

The Korea Exchange has been selecting companies with excellent English disclosure since 2019 in order to increase information accessibility to foreign investors. Kakao has been awarded as an excellent English public disclosure company for three consecutive years since 2019 for the first time in the Korean stock market.

 

Kakao published 129 disclosures in Korean and 73 in English in 2021, providing timely and accurate information to investors. In addition, the company operates an internal system to resolve the asymmetry of disclosed information between domestic and foreign investors and to broaden the local capital market's accessibility to foreign investors.

 

Excellent disclosure corporations are selected based on the evaluation of quantitative factors including the number of disclosures by all listed companies, and qualitative factors such as disclosure infrastructure. This year, a total of 11 companies were selected including Kakao as companies with excellent English disclosures. Companies selected as ‘excellent disclosure companies’ receive noteworthy benefits such as exemption from listing fees, annual charges and mandatory annual training. Also, the designation as an unfaithful disclosure corporation will be postponed once for three years.

 

A Kakao official said, “We will continue to proactively publish faithful disclosure to contribute to increasing the reliability of the stock market, and to strive to provide prompt and accurate information to investors.”