28 July 2027
On 28 July, 2026, the International Corporate Governance Network (ICGN) sent a letter of appreciation to the Financial Services Commission (FSC), congratulating it on the final Sustainability-related Disclosure Roadmap announced on 8 July 2026.
Led by investors responsible for assets under management of more than US$100 trillion, ICGN is an authority on global standards of corporate governance and investor stewardship. Headquartered in London, its membership is based in more than 40 countries and comprises asset owners, asset managers and advisers.
ICGN welcomed the decision to introduce sustainability disclosure through companies’ statutory annual business reports under the Financial Investment Services and Capital Markets Act, supported by legislative amendments to be pursued within 2026.
ICGN also welcomed the clear timeline for independent third-party assurance beginning in 2030; the broader initial scope, covering companies with consolidated assets of KRW 10 trillion or more from 2028 and KRW 5 trillion or more from 2029; balanced transitional liability relief; phased Scope 3 reporting supported by practical guidance and data infrastructure; and the explicit link drawn between corporate disclosure, investor stewardship and transition finance.
ICGN has engaged closely with the FSC throughout, submitting two letters earlier this year and meeting Commission officials in Seoul in April. The final Roadmap reflects a number of positions ICGN and its members had advocated, including statutory rather than exchange-level disclosure, a defined assurance timeline, and broader initial coverage.
Looking ahead, ICGN encouraged the FSC to build on the initial focus on climate-related information by extending the mandatory scope over time to all financially material sustainability related risks and opportunities. Doing so would strengthen consistency with international disclosure standards and give institutional investors the information they need to assess these risks and opportunities fully and reflect them in their responsible investment and stewardship activities.
Jen Sisson, CEO of ICGN, said: “The final Roadmap is an important step that will strengthen the international standing of Korea’s capital markets. We particularly welcome the statutory reporting framework, the clear assurance timetable and the phased implementation plan. ICGN will present this decision as an example of best practice to other markets reviewing their own disclosure regimes.”
The full text of the open Policy letter is available here.
Note to Editors .
About ICGN
Our Mission
We are a global, investor‑led community and our members manage over $100 trillion USD on behalf of their clients and beneficiaries.
We aim to strengthen markets and create long‑term value through effective corporate governance policy and practice.
We focus our networking, education and policy advocacy on material governance issues, in line with our members’ fiduciary responsibilities.
Established in 1995 and led by investors responsible for assets under management of >US$100 trillion, ICGN advances high standards of corporate governance and investor stewardship globally.
Our Purpose
At ICGN, we believe G is key. Governance is about how companies are run, and how long-term sustainable economic returns are generated. It’s also how we can solve some of the newer and urgent issues that the corporate world needs to grapple with.
Our activities
Networking: We connect a global, investor‑led governance community
Policy: We shape global governance standards through evidence-based policy engagement.
Education: We build governance leadership through expert knowledge.
That’s why we focus our policy impact, networking and education on material governance issues, advocating for high standards in corporate governance and stewardship, in line with our members’ fiduciary responsibilities.
