A Conceptual Study on the Human Capital Disclosure System and Implications from Overseas Cases
Jang‐Ho Choi, Kyungok Song, Jaewook Shin · Korean Academy of Organization and Management · 2025
As the proportion of intangible assets held by companies increases, efforts to disclose information about these assets to stakeholders, including investors, are growing worldwide. These efforts aim to reduce unreasonable decisions caused by information asymmetry. In particular, the importance of human capital disclosure, which seeks to reveal information about human capital capable of providing sustainable competitive advantages through its value and inimitability, is rising. In this context, various frameworks, such as ISO 30414, have emerged to measure and disclose companies' human capital. This study examines the meaning of human capital disclosure, as well as the factors influencing it and its effects. Additionally, it reviews human capital disclosure systems in the United States, Japan, and Europe, based on the recently introduced ISO 30414 standard, and analyzes corporate cases of human capital disclosure. Furthermore, this paper discusses implications for the development of appropriate disclosure-related regulations by the Korean government and corporate strategies for adapting to such disclosures.