Shareholders’ meeting agendas at a glance ... FSS to revamp Open DART next year

[Financial News] Starting next year, information on listed companies’ shareholder meeting schedules and agenda items will be available in one place on Open DART. The change is intended to help institutional investors analyze agenda items and develop voting strategies without having to review each notice calling a shareholder meeting.
The Financial Supervisory Service said on the 14th that it would improve Open DART and revise the XBRL taxonomy to make disclosure information easier for investors to analyze and use.
The FSS will expand Open DART, which has been applied to business reports and major-event reports, to include disclosure documents related to shareholder meetings. Open DART is a disclosure-information access service that provides original filing data through an open API and supports easy searches in a web browser and Excel downloads.
Users will be able to check the date and venue of shareholder meetings, the record date for voting rights, whether meetings will be held electronically, and whether electronic voting will be offered. All agenda items submitted to shareholder meetings will be classified according to uniform criteria, with an overview provided for each item.
The FSS plans to provide detailed information on major agenda items that draw strong investor interest and are frequently put forward, including director appointments; approval of compensation limits for directors and auditors; amendments to articles of incorporation; and approval of financial statements and dividends. The aim is to reduce the time institutional investors spend reviewing agenda items and help them manage shareholder meeting schedules and develop voting strategies.
The FSS will also improve the function for viewing shareholder meeting notices on the DART website. It plans to create a table of contents by agenda item to make specific items easier to find and distinguish regular from special shareholder meetings in filing titles.
The FSS plans to complete system development and revisions to disclosure forms by the end of this year so the improved service can be used starting with regular shareholder meetings held in 2027. It will finalize the details after consulting with relevant institutions, including the Financial Services Commission, the Ministry of Justice, the Korea Exchange and the Korea Securities Depository.
The XBRL financial disclosure framework will also be updated. XBRL is an international-standard computer language that structures companies’ financial information so it can be compared and analyzed electronically. A taxonomy is a classification system that defines the elements and relationships in financial information prepared using XBRL.
The FSS plans to incorporate the IFRS Foundation’s international-standard taxonomy while supplementing it with detailed elements needed for the domestic disclosure environment. It will streamline similar or overlapping items to enable consistent comparisons of financial information across companies.
Previously, XBRL note data was provided either for individual companies or in large datasets covering all companies, making it difficult to analyze specific items. Going forward, data for major notes, such as property, plant and equipment, will be provided in stages through the Open DART open API, allowing users to extract only the information they need.
The FSS plans to publish a new XBRL taxonomy by the end of this year and provide data separately by major note category starting in 2027. It will also build a foundation for generating and managing AI-friendly disclosure data to make it easier to search and analyze disclosure information using artificial intelligence (AI).

[email protected] Lee Jeong-hwa Reporter