Extent of IFRS application Status Additional Information
IFRS Standards are required for domestic public companies tick IFRS Standards as adopted in Korea (which are IFRS Standards as issued by the IASB Board without modifications) are required for listed companies and financial institutions.
IFRS Standards are permitted but not required for domestic public companies
IFRS Standards are required or permitted for listings by foreign companies tick Foreign listed companies are permitted to use (a) IFRS Standards, (b) IFRS Standards as adopted in Korea, or (c) US GAAP.
The IFRS for SMEs Standard is required or permitted No. However, SMEs are permitted to use full IFRS Standards.
The IFRS for SMEs Standard is under consideration No.
Last updated:
23 June 2017
Last updated:
18 November 2015
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