HTML5-based XBRL Disclosure Platform… Secures Compatibility with Overseas Analysis Tools
Integrated System for Report Preparation, Verification, and Utilization for Companies, Investors, and Regulatory Agencies, Kolon Headquarters in Gwacheon, Gyeonggi Province (Provided by Kolon Benit)
‘(Seoul = News1) Reporter Kim Min-seok: Kolon Benit announced on the 28th that it has developed and launched the country’s first HTML5-based XBRL disclosure platform.’,
A Kolon Benit representative explained, “The XBRL disclosure platform processes XBRL based on HTML5 and integrates the entire process from disclosure form preparation to report writing, verification, and utilization,” adding that “it has passed the viewer test of the U.S. Securities and Exchange Commission (SEC), ensuring compatibility with major overseas viewers and analysis tools.”,
He continued, “The new editor in the XBRL disclosure platform is designed to significantly enhance the efficiency and accuracy of disclosure tasks,” while noting that “various verification rules and automated cross-verification functions minimize data errors and enhance consistency.”,
Kolon Benit emphasized that they have implemented practical verification logic and functions based on their experience with projects for domestic and international institutions.
Lee Tae-hoon, the team leader of Kolon Benit’s Financial Services Team, stated, “The next-generation disclosure platform is optimized for formalized disclosure based on data points, such as in systems in the Philippines and Vietnam, and ESG disclosures,” and expressed that it would be “the starting point for innovation in the disclosure infrastructure, improving the reporting quality of companies, the review efficiency of global regulatory agencies, and investor trust.”
<Glossary>
‘■ HTML5’
‘HTML5 is an application development standard language that defines the structure and content expression methods of web documents. It’s designed to allow the free placement of various media elements like text, images, videos, and audio.’,
‘■ XBRL’
‘XBRL (Extensible Business Reporting Language) is an electronic document standard used in corporate financial statements, reports, disclosures, etc., which structures data by tagging it to enable automatic processing across different systems. It supports companies, governments, and investors in quickly and accurately collecting, comparing, and analyzing financial data.’