Korea ESG statutory disclosure 2028: companies must prepare now for climate data accuracy

South Korea is moving climate and ESG data into statutory business reports starting with the 2027 fiscal year, and companies need their data systems ready before then. Attorney Park Sang-o of Barun Law says the shift will reward accuracy, verifiability, and internal controls over promotional language. Firms that have relied on sustainability reports with ambitious goals will need to show calculation methods and implementation plans or face disclosure risk. The first filings arrive in 2028 for KOSPI companies with at least 10 trillion won in consolidated assets. Park stresses that data collection starts January 2027, so responsibility, templates, and verification procedures must be set this year. Scope 3 will force more partner data requests, while greenwashing claims become legal exposure. Companies that treat this as an extra report rather than a companywide data system will likely struggle.