This study examines the value relevance of Other Comprehensive Income (“OCI”) measured byfair-value using price multiples model by Ohlson (1995). Financial reporting requirement ofOCI continuously changed for the past decade. Isn 2007, Korean Accounting Standards Board(“KASB”) revised its reporting policy requiring OCI to be disclosed as part of financial statementfootnote. Note that OCI was reported as adjustment to Stockholder’s Equity prior to 2007. KASB later revised this policy during 2011 and OCI is now required to be recognized onStatement of Comprehensive Income as per the revised reporting policy. Further, KASB continuedto expand accounts which were to be reported as part of OCI measured by fair-value during thisperiod. As such, this study examines the influence of OCI on firm value under each reportingpolicy. This study also analyzes the impact of additional OCI accounts on firm value. It utilizeddata collected for 10-year period between 2003 and 2012 to capture all three reporting requirements:equity adjustment recognition period (2003-2006), footnote disclosure period (2007-2010), andcomprehensive income recognition period (2011-2012). This study selected 6,997 and 3,329firm-fiscal year samples from Korea Stock Exchange, excluding financial companies, to test theimpact of reporting policies and additional OCI accounts respectively. The results of this study using the original model by Ohlson (1995) and expansion model asfollows. First, this study validated that additional value relevance was only present duringcomprehensive income recognition period. Further, difference in value relevance was more prominentbetween footnote disclosure period and comprehensive income recognition period than betweenequity adjustment recognition period and comprehensive income recognition period. Second, this study verified that Accumulated Other Comprehensive Income (“AOCI”) and OCI derived fromadditional OCI accounts had statistical significant positive impact on firm value during footnotedisclosure period. However, this study determined that AOCI had negative impact and changein OCI due to recognition of additional OCI accounts had positive impact on firm value duringcomprehensive income recognition period. Therefore, this study concludes that impact of AOCI on value relevance, either positive ornegative, depends on the progress and change in reporting policy, while additional OCI on valuerelevance has positive impact regardless of reporting policy. As such, this study contributes byevaluating the usefulness of additional information and, thus, providing empirical evidencethat can assist in making accounting policy decisions, which is to expand reporting requirementof OCI accounts.