About the IFRS Foundation
- A non-profit public interest organisation established to develop and promote the adoption of high-quality, understandable, enforceable, and globally recognized IFRS Accounting Standards and IFRS Sustainability Disclosure Standards. The standards issued by the IFRS Foundation (IFRS® Accounting Standards and IFRS® Sustainability Disclosure Standards) are set and revised by the International Accounting Standards Board (IASB) and the International Sustainability Standards Board (ISSB), the professional standard-setting bodies of the IFRS Foundation.
Background on Financial Support for the IFRS Foundation
- To enhance Korea's international status and fulfill its role as a direct user of the standards following the full adoption of IFRS, the IFRS Foundation Support Committee has been raising contributions from domestic companies and other entities to support the IFRS Foundation since 2007.
Financial support for the IFRS Foundation is provided by major advanced economies around the globe, and as the world's 11th largest economy, Korea also continues to contribute. Through this effort, Korea seeks to expand its influence in the development of IFRS Accounting Standards and IFRS Sustainability Disclosure Standards, while laying the foundation for greater involvement in key IFRS bodies.
List of the companies which pledged to donate as of 31 December 2020
Bureau of IFRS Support Committee
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ADDRESSThe Korea Chamber of Commerce & Industry Bldg. 3rd Floor, 39 Sejong-daero, Jung-gu, Seoul 04513, Korea