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한국어

Five percent rule

Anyone who acquires 5% or more of a listed company, or changes that stake by 1%+, must disclose it.
Also known as: Large shareholding report

What it is

A holder reaching 5% of a listed company must report the stake and its purpose within five business days, and report again whenever the stake moves by one percentage point or more.

Purpose

Reports state whether the holder seeks management influence, general investment or simple investment. Switching to management influence can hint at a control contest.

What to keep in mind

The filings are useful for tracking stakes held by the National Pension Service and asset managers, but there is a lag between trades and reports.

See related filings and news data →

This explanation is general information, not investment advice. Rules reflect September 2026 and may change; check official exchange and broker notices.

Five percent rule: questions

When does a Korean 5% filing have to be made?
Within five business days of reaching 5% of a listed company, and again whenever the stake moves by one percentage point or more.
What does the stated purpose mean?
Filings say whether the holder is seeking management influence, general investment or simple investment. A switch to management influence is often read as the start of a control contest.
Do these filings show current holdings?
They show the position as of the filing. Trades between filings are not visible, and once a holder drops below 5% no further reports are required, so the list can lag reality.