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):

• KSSB 1 General Requirements for Disclosure of Sustainability-related Financial Information is based on IFRS S1
• KSSB 2 Climate-related Disclosure is based on IFRS S2
• 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. Consequently, the effective dates of the standards and the specific location for information will be established in conjunction with the development of the mandatory sustainability disclosure system.

For more information, please see the press release on the KSSB website.