The Korea Sustainability Standards Board (KSSB) has published an exposure draft (ED) proposing sustainability disclosure standards based on IFRS S1 and IFRS S2. The comment period for the ED ends on 31 August 2024.
The proposed Korean Sustainability Disclosure Standards would comprise two mandatory disclosure standards (KSSB 1 and KSSB 2) and one non-mandatory disclosure standard (KSSB 101):
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KSSB 1 General Requirements for Disclosure of Sustainability-related Financial Information is based on IFRS S1
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KSSB 2 Climate-related Disclosure is based on IFRS S2
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KSSB 101 Additional Disclosure aligned with Policy Objectives is a country-specific standard that allows entities to selectively disclose additional sustainability-related information as required by domestic laws or to meet the sustainability-related policy objectives
The timeline within the legal framework or listing rules will be determined by the Korean government following extensive consultation with domestic stakeholders. C
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