Korea's Financial Services Commission has released a draft roadmap for mandatory sustainability reporting aligned with ISSB standards, starting in 2028 for large KOSPI-listed companies. The standards include climate disclosures with a 3-year transition period for Scope 3 emissions reporting and optional third-party assurance initially. This represents a significant new ESG compliance requirement for affected companies in Korea.
South Korea's National Tax Service lost $4.8 million in seized cryptocurrency due to a photo leak exposing hardware wallet seed phrases, marking the second major loss of seized crypto in the country. Multiple government agencies have launched investigations and pledged to overhaul digital asset seizure and management procedures, signaling upcoming regulatory changes for handling cryptocurrency in tax enforcement operations.
Korea has tabled a draft disclosure framework aligned with the International Sustainability Standards Board (ISSB), signaling regulatory advancement in ESG reporting standards. This represents a meaningful step toward standardized sustainability reporting requirements for companies operating in Korea.
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