The Financial Services Commission and Korea Exchange announced revised corporate governance reporting guidelines requiring all 826 KOSPI-listed companies to provide more detail on board changes, major transactions and shareholder rights. The changes, which apply to reports filed next year, target attempts to avoid mandatory cumulative voting for listed companies with assets of at least 2 trillion won ($1.49 billion), while expanding disclosures on rights offerings, separate subsidiary listings, dual listings and treasury shares. Companies must explain changes to board size or director terms, their potential effect on cumulative voting, shareholder engagement and protections, third-party allotments, offering size and discount rates, use of proceeds, and whether controlling shareholders will subscribe. Firms must also disclose dividend plans and amounts at least six weeks before annual meetings, giving shareholders more time to submit proposals and assess payouts. The guidelines follow the extension of governance-reporting requirements to all KOSPI-listed companies this year and are intended to strengthen oversight under a framework covering 10 core principles and 28 detailed principles.