[Edaily Marketin LEE GEON-EOM Reporter Kim Yeon-seo] It has been confirmed that Korea Ratings (Han Shin Pyeong) is hosting private seminars by inviting only a select few asset management firms, combining a tour of the Pompidou Center inside the 63 Building with a question-and-answer session led by the assigned analyst. The format involves the assigned analyst personally providing one-on-one, customized answers based on advance requests from participating institutions.

Industry observers are raising concerns about the fairness of information access, noting that the nature of these closed-door events—held behind closed doors—means only certain asset management firms may be given the opportunity to obtain undisclosed information or gain insight into future rating directions.

According to a comprehensive report by E-Daily on the 20th, Han Shin Rating is currently running a private program called “Insight Sessions” for institutional investors, including asset management firms.

Unlike existing public seminars or briefings—which generally cover broad, theoretical topics for a wide audience—this program is designed to facilitate in-depth Q&A sessions tailored to the specific interests of each asset management firm. Han Shin Rating is the first credit rating agency to hold private briefings by inviting individual institutional investors.

The sessions take place in Hanshin Rating’s meeting room at the 63 Building in Yeouido. Attendees provide advance notice of the industries, companies, corporate groups, and market issues they wish to discuss, and analysts specializing in those areas personally answer their questions. The sessions are divided into morning and afternoon sessions, and meals and cultural events are also provided. Attendees of the morning session will be offered lunch and, for those interested, a tour of the Hanwha Pompidou Center, while the afternoon session will be followed by a visit to an art museum. Word is that the Insight Sessions are generating significant interest among asset management firms, with all slots already booked through the end of August.

The issue is that, given the event’s closed-door, small-group format, sensitive information—such as rating actions not yet officially announced or future evaluation directions—may be exchanged. This has led to concerns that it could constitute a violation of the Capital Markets Act’s regulations on the management of material non-public information and internal control standards.

A financial investment industry official also expressed concern about the risks inherent in the closed-door event structure, stating, “While it may be beneficial for participating asset management firms to gain insight into future directions, I question why the credit rating agency feels the need to organize such a gathering.” The official explained that the environment is risky because sensitive hints regarding future rating directions could leak during in-depth discussions.

In fact, it is understood that Korea Ratings Corporation(034950)and NICEHoldings also considered holding close-knit events similar to those of Korea Rating & Investment, but scrapped the plans entirely due to these concerns. A sense of caution—that they could inadvertently become targets of regulatory sanctions, such as unscheduled inspections by the Financial Supervisory Service—is cited as the reason why Korea Rating & Investment and NICEHoldings drew a line early on and are taking a wait-and-see approach.

An official from a credit rating agency explained, “This is an unusual sales approach that has never been attempted in the credit rating industry,” adding, “The stronger the ties with market participants become, the more difficult it may be to manage risks, such as controversies over information asymmetry.”

Market observers point to the results of the Korea Financial Investment Association’s (KFIA) first-half 2026 credit rating agency competency evaluation as the reason Han Shinpyung is taking such risks to pursue this unusual, close-contact marketing strategy. The interpretation is that Han Shinpyung, having received a poor evaluation at the time, has taken drastic measures to make up for it.

According to the “2026 Credit Rating Agency Capability Assessment Results” released by the Korea Financial Investment Association (KOFIA) last June, Han Shin Rating scored only 3.76 points in the credit rating accuracy category based on a qualitative assessment conducted among domestic experts, placing it at the bottom of the rankings behind Han Ki Rating (3.80 points) and Na Shin Rating (3.89 points).

In response, a Hanshin Credit Rating official explained, “We simply moved the venue for the briefings—which we previously held by visiting each asset management firm directly—to the 63 Building and combined them with cultural events,” adding, “While there may be a lot of discussion depending on the preferences of analysts and portfolio managers, there is no problem.”