In accordance with the FSCMA, corporate disclosure is classified into primary market disclosure and secondary market disclosure
The FSCMA stipulates listed corporations' disclosure requirements to ensure accurate and timely disclosure of important business information regarding assets and management conditions, or securities-related matters issued by listed corporations,
Disclosure in the Primary Market

The primary market disclosure refers to the disclosure in relation with the issuance of securities requiring securities issuers to provide investors with all the information regarding the securities and its issuers in a transparent manner.

Primary market disclosure includes securities registration statements, business prospectuses, reports of securities issuances results, etc.

Disclosure in the Secondary Market

The secondary market disclosure refers to the disclosure in relation with the trading of securities requiring issuers to provide investors with details of corporate business activities regarding the trading of securities among investors.

Such disclosures include periodic disclosures, timely disclosures, reports on material management matters, and special disclosures.

  • Periodic disclosure: annual reports, semi-annual reports, quarterly reports, etc.
  • Timely disclosure: important business matters, etc. as stipulated in the Disclosure Regulations of the KRX-KOSDAQ Market.
  • Reports on material management matters: bankruptcy, suspension of banking transactions, etc. and business takeover & transfer (separate reports not needed), comprehensive exchange/transfer of shares (separate reports needed)
  • Special disclosure: tender-offer, price stabilization measure & market making, etc.