The Financial Services Commission is reviewing whether to exclude companies outside high-carbon-emitting industries from Scope 3 reporting under South Korea’s mandatory ESG disclosure rules, extending consideration beyond the small-company exemption already announced. Kwon Dae-young, first vice minister of the Ministry of Finance and Economy and former FSC vice chairman, said the government was reviewing the plan during a National Assembly legislative subcommittee session. Scope 3 covers indirect emissions across the value chain, including suppliers, logistics, business travel, and the use and disposal of products, requiring data that many companies cannot obtain directly. The review reflects concerns that measurement costs, limited standards and certification infrastructure, and legal exposure could outweigh the benefits, particularly for smaller suppliers. Mandatory disclosure starts in 2028 for KOSPI-listed companies with consolidated assets of at least 10 trillion won, expands to those with at least 5 trillion won in 2029, and is under review for companies with at least 2 trillion won from 2030. Scope 3 would begin three years after each company’s disclosure start date. The government plans calculation guidance for 15 major export industries and 1,000 life cycle inventory datasets by 2028, while a safe harbor would limit liability for good-faith estimates and other uncertain information. Third-party assurance is planned from 2030 rather than immediately.