How to Read Korean Company Reports in English Using DART and Google Translate
In the United States, there is SEC filings, while in Korea, there is DART (data analysis, revaluation and transfer system). It can be easily found by searching for company-related disclosure information in Dart.
I write this post in the hope that the undervaluation of the Korean stock market will be resolved.
The Dart website supports English.
Link to Dart Enlgish Website : https://englishdart.fss.or.kr/
This is the screen when you access the website.
When searching for a company, I recommend you to type the code. You can easily check the company code on Yahoo Finance or Google.
And as of the current date of November 22, there are not as many documents searched as Korean websites yet. This is because the website that supports English has just been established.
Therefore, those who want to view more documents of the past are recommended to go to the Korean homepage and search for documents using the automatic Chrome translation function.
Link to DART Korea website : https://dart.fss.or.kr/main.do
(For your information, if you want to manually translate a webpage on Google Chrome, right-click and then click the translate button. If you want to cover the translation function in more detail, go to Chrome settings and set it up separately.)
How to solve a translation problem when using goolge translation
However, one problem arises when using Google Chrome's translation function. The following is the case when a company's quarterly report was translated from Google Chrome into English.
Even if you use the translation function
as above, if you click on another category in the table of contents, it will
appear in Korean.
I'll tell you how to solve this problem.
In the upper right search bar, select any Korean word in the report,
check out "full document", and search the word.
What about searching for '사업'? (사업 = business)
Then you can find out where the word you searched is in the entire
document. At this time, the range of the right scroll bar of the page is
different. Prior to searching, you could only view articles in each category by
moving the scroll bar, but now you can scroll and read all articles.
Keep in mind when you translate the
report
1. Instead
of translating immediately after the report is executed, search for any Korean
words in the report in the search box and use the translation function. This
translates the entire page.
2. After running the report page, if you translated the web page immediately before searching for words, search for Korean words in the upper right and then translate the web page again. It will not be translated immediately when translating the web page again. At this time, click on the original language (Korean) and then click on English again. If you look at the following pictures, it will be easy to understand.
If you click Korean in the upper-right Google Translation function window and click back into English, the entire page will be translated into English like following picture.
For your information, some companies post business reports in English on their websites. In addition, the English dart website supports XBRL (eXtensible Business Reporting Language) for some reports, so I recommend you to check it too.
Advantages of the method I introduced
1. You can click on
the subheadings of the table of contents to read them right away.
2. Documents are translated more cleanly than when using Google Translator.
Let's invest in Korean stocks
Even if you use another language instead of English, Google Translator can translate Hangul into another language.
Well, now you'll be able to read about all the business reports of Korean companies to some extent. I hope this article will resolve the undervaluation of the Korean stock market. It would be nice to read this article from all foreign financial institutions and look at the Korean stock market as a land of opportunity.