- Recognized for efforts to address information asymmetry between domestic and international investors
- Continues to enhance communication activities to protect shareholder rights
LX International (CEO: Yoon Chun-sung) announced on the 27th that it has been selected as a ‘2024 Outstanding Company for English Disclosure in the KOSPI Market’ by the Korea Exchange (KRX).
Although LX International is not obligated to provide English disclosures, it has voluntarily published English versions of its Korean disclosures since October 2020. To date, the company has submitted a total of 129 English disclosures to the KRX.
Additionally, the company provides foreign investors with timely and practical information by publishing details on its board of directors, financial data, earnings reports, and ESG management status in English on its official website.
Since 2019, the KRX has annually selected ‘Outstanding Companies for English Disclosure’ in accordance with Article 90 of the KRX Disclosure Regulations. This initiative aims to enhance foreign investors’ accessibility to the capital market and promote foreign investment.
A company representative stated, “We are honored to be recognized for our efforts to enhance shareholder value by addressing information asymmetry between domestic and foreign investors.” He added, “We will continue to strengthen communication to protect shareholder rights through accurate and timely disclosures.”
Companies selected for outstanding English disclosure receive benefits such as a five-year exemption (one-time) from being designated as a non-compliant disclosure company, exemption from annual training for disclosure officers, one-year exemption from annual fees and additional/change listing fees, and opportunities for overseas training for disclosure officers.
In 2023, LX International was also the first in the domestic general trading industry to be recognized as an ‘Outstanding Company for Corporate Governance Report Disclosure.’ The company was acknowledged for its comprehensive disclosure of governance-related information and clear improvement plans, contributing to investor protection and fostering a sound disclosure culture.
Min Byeong Il, Senior Vice President and CFO of LX International (right), poses for a commemorative photo with Yang Tae-young, Head of the KOSPI Market Division at the KRX, during the ‘2024 Outstanding Company for Disclosure’ award ceremony held on the 27th at the Korea Exchange headquarters in Yeongdeungpo, Seoul.
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