Attention business professionals! 🌍 Explore the latest update in Korea's financial landscape. The Korean government is considering a proposed requirement that could reshape how stock-based compensation is reported.

📊 Focus: This requirement aims to encompass comprehensive details of overseas stock-based compensations granted by foreign controlling shareholders.

📋 Details to Include:

• Transaction specifics: Granting, exercising, and payment details of stock-based compensation.
• Income from stock option exercises.
• Personal information of executives and employees.

🔍 Who's Impacted:

• Korean Companies: Overseas controlling shareholders with 50% or more interest.
• Korean PE of Foreign Companies: Includes head offices, other PEs, or foreign companies with 50%+ interest.

💼 Compensation Types: Stock options and rewards in shares or equivalent funds.

🗓️ Dates to Remember:

• Submissions due by March 10th of the year after compensation exercise.
• Applies to exercises or payments on or after January 1, 2024.

Please note that these details could be subject to change during the review process by the Korean Congress.

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