At a glance
OpenDART facts come from its introduction, terms of use and developer guide pages, read on 12 November 2026. The developer guide says the request limit error normally appears above 20,000 requests, and a different limit may be set. Narwhal API is owned and operated by Nusantara Ventures, LLC.
| Requirement | Narwhal API | OpenDART |
|---|---|---|
| Coverage | Korea: about half of listed companies so far. Also the US, Japan, Taiwan, the EU and EEA, and the UK | DART filers, with bulk financial downloads for listed companies and major unlisted filers |
| History | Full history on every account | Statements from 2015 |
| Financial statements | Standardised statements by company id, with amounts in won as filed | Full single-company statements as JSON or XML, with Korean account names |
| Access | $10 free every month at 50 a minute, commercial apps allowed | Free in principle with a registered key. The terms say some services may become paid, with notice to members |
| Limits | 50 requests a minute on free credit, 500 on paid credit. No overage charge | A request limit applies. The developer guide says its error normally appears above 20,000 requests, and a different limit may be set |
| Search | Company search, then filings per company. No full-text search | A filing search without a company code covers at most 3 months, with up to 100 results a page |
| Language | Search returns English company names | API pages and field names are in Korean. An English portal covers menus and notices |
| Interfaces | REST and hosted MCP with 80 tools, one key for every Narwhal API | REST API returning JSON or XML |
Why teams switch
You also need Japan, the US or Taiwan
OpenDART covers Korea only. One Narwhal key and one schema also read Japan, the US, Taiwan, the EU and the UK.
You do not want to map Korean account names
OpenDART returns account names in Korean. Narwhal returns standard item names, with amounts in won as filed.
When they are the better pick
OpenDART is the better pick for full Korean coverage and original data. Individuals, companies and institutions can all use it. It returns full single-company financial statements as JSON or XML from 2015, and it adds disclosure lists, equity disclosures, major event reports and bulk financial downloads. Narwhal has about half of Korea's listed companies so far.
Questions
Is OpenDART enough?
For one company at a time, often yes. It is free with a registered key and returns statements with Korean account names. Narwhal returns statements as standard items, in the same schema as its other regions.
Does OpenDART cover more companies than Narwhal?
Yes. Narwhal covers about half of Korea's listed companies so far, and OpenDART covers every DART filer.
What is the OpenDART request limit?
The developer guide says the limit error normally appears above 20,000 requests, and a different limit may be set. Narwhal allows 50 requests a minute on free credit and 500 on paid credit, with no overage charge.
Can OpenDART start charging?
The terms call the service free in principle and say some services may be paid, with notice to members first.
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