How to Read Korean Company Disclosures (DART) as a Foreign Investor

DART (Data Analysis, Retrieval and Transfer System) is Korea's official corporate disclosure database, run by the Financial Supervisory Service, and it's free to search at dart.fss.or.kr. Since 2024, large KOSPI-listed companies have been phasing in mandatory English-language disclosures, making DART increasingly usable without Korean fluency — though coverage still isn't universal. This article is part of our Ultimate Guide to Investing in South Korean Stocks for Foreigners.

Which Companies Are Required to Disclose in English?

Korea's English disclosure mandate rolled out in phases. Since 2024, KOSPI companies with total assets of 10 trillion Won or more (excluding those with under 5% foreign ownership), or foreign ownership of at least 30% combined with assets between 2-10 trillion Won, must publish key disclosures in English within three business days of the Korean filing. From 2026, this expands to all KOSPI-listed companies with total assets of 2 trillion Won or more, with a broader scope of covered disclosure items.

✅ What English Disclosure Actually Covers

• Financial statement closing announcements
• Common statutory disclosure items (dividends, capital increases/decreases)
• Trading suspension notices
• "Important decision-making" matters, as defined by KRX rules

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What If a Company Isn't Covered by the English Mandate?

Smaller KOSPI companies and most KOSDAQ companies remain unlikely to have English filings. In these cases, foreign investors generally rely on: (1) machine translation of the original Korean DART filing, (2) English-language investor relations materials some companies voluntarily publish on their own websites, or (3) third-party research aggregators that summarize Korean disclosures in English.

How Do You Search DART Effectively?

1. Go to dart.fss.or.kr (or the English portal, if available for the company)
2. Search by company name or 6-digit stock code (e.g., 005930 for Samsung Electronics)
3. Filter by disclosure type: periodic reports (annual/quarterly), major disclosures, or fair disclosure items
4. For annual reports, look for the "사업보고서" (business report) filing — the Korean equivalent of a 10-K

Frequently Asked Questions

Q1. Is DART free to use?

A. Yes, DART is a free, publicly accessible database operated by Korea's Financial Supervisory Service.

Q2. Will every KOSPI company have English filings by 2026?

A. The 2026 phase expands the mandate to companies with 2 trillion Won or more in total assets — smaller companies below that threshold are not yet required to file in English.

Q3. Does DART cover KOSDAQ companies too?

A. Yes, DART covers both KOSPI and KOSDAQ filings, though the English-language mandate currently applies primarily to larger KOSPI companies.