KR-Listed Companies
Regulator: DART (FSS).
Insider ownership reporting in South Korea
Article 173 and Article 147 of the FSCMA
South Korea's Financial Investment Services and Capital Markets Act (FSCMA) asks two kinds of filings from people close to a listed company. Under Article 173, an officer or major shareholder reports the specified securities they own within five days of taking the post or the stake, and reports every change within five days of it, to the Securities and Futures Commission and the Korea Exchange. Weekends and public holidays are not counted. The two bodies keep the reports for three years and publish them online.
Article 147 is the 5% rule. A person who, together with specially related parties, comes to hold 5% or more of a listed company's shares reports the holding, its purpose and the main contracts attached to it within five days, then files again on each change of one percentage point or more. Holders with no intent to influence management may use a shorter report with a longer deadline.
Trading plans 30 days ahead since July 2024
Article 173-3, in force since 24 July 2024, adds a prior-disclosure step. An officer or major shareholder (10% of voting shares, or de facto influence over management) who plans a large trade files a trading plan with the expected price, quantity and period at least 30 days before the trade starts; the law sets the window at 30 to 90 days. The duty bites when trades over six months reach 1% of issued shares or KRW 5 billion. Smaller deals are exempt, as are pension funds and some other financial investors. The Financial Services Commission said trades from 23 August 2024 were the first caught.
The trade must be completed within 30 days of the planned start date, and the amount actually traded may differ from the plan by up to 30%. A breach can draw a surcharge capped at KRW 2 billion.
What the DART feed on this site contains
Korean filings are published on DART, the electronic disclosure system of the Financial Supervisory Service. Our data comes from the OpenDART API, which exposes the two regimes as separate datasets: large-holding reports and officer and major-shareholder ownership reports.
The source is classed as holdings. Most Korean records here are 5% block reports, position snapshots that carry no transaction amount by design. Per-trade amounts in won exist only on the Article 173 ownership reports and are converted to euros. Read a block report as a change in a stake, not as a purchase on the market.