Opinions among members of the Broadcasting Media and Communications Committee (BMC) sharply diverged regarding the legality of Yujin Enterprise's acquisition of YTN. While some argued that a decision should await the court's ruling, as the appeal trial concerning the case is ongoing, others maintained that there were flaws in the acquisition procedure, leaving the committee unable to reach a conclusion.
The Broadcasting Media and Communications Commission (BMCC) discussed on the afternoon of the 14th at its 28th meeting whether there were flaws in the administrative ruling approving the change of YTN's largest shareholder to YJ Ent (a special purpose vehicle of YJ Enterprise), as well as subsequent administrative measures. The BMCC first introduced the relevant agenda during a meeting in April, followed by sessions with the legal advisory team and opportunities to hear opinions from representatives of both sides.
The issues are largely divided into two categories: procedural illegality and substantive illegality.
First, it is argued that there was a procedural flaw because YTN's change of investors in Evian Enterprise was approved during the two-person regime of the former Korea Communications Commission (KCC), which did not even meet the quorum requirement.
Legally, the content was found to be problematic because the Korea Communications Commission previously sent official documents regarding the integrated sale of YTN shares held by Korea Electric Power Corporation, KDN, and Masahoe to relevant ministries and the lead selling company, thereby inducing participation by specific individuals. Additionally, Yujeen Enterprise made false statements regarding the feasibility of realizing fairness and public interest, which were matters subject to approval changes.
Specifically, while Yoo Kyung-seon Yoo Jin-geu-rup (Chairman)Lee (President) Recommendation Committee and the declaration of intent to abide by the collective bargaining agreement regarding the appointment and dismissal of the Director of News Department were made, they were not upheld, and although it was stated that the Employment Stability Agreement would also be observed, the situation at the time involved the dismissal of Yoo Jin Group Noh Jo-wi (Director).
On this matter, six members of the Standing Committee on Foreign Affairs and Defense offered differing opinions. Kim Jong-cheol Bang Mi-tong-wi (Chairman) filed a recusal request regarding the agenda item.
People Power Party recommenders Lee Sang-geun and Choi Soo-young Wi Won-gwa (President), who recommended Ryu Shin-hwan as a member, stated that the Supreme Court's judgment must be awaited before making a decision. While pointing out procedural flaws in the sale of YTN by the former Korea Communications Commission and issues regarding abuse of discretionary power, they also expressed the need to verify additional factual circumstances.
Committee member Ryu stated, "It must be confirmed regarding the improper planning of the committee's flawed review concerning the instruction to approve the bulk sale of non-performing assets and the procedure for granting change approval conditions." He added, "Given that an audit and investigation are currently underway on these matters, a decision should be made accordingly. If administrative litigation proceeds due to revocation by official authority, there is a possibility that legal disputes could be prolonged."
Yoon Seong-ok and Go Min-soo, nominees recommended by the Democratic Party of Korea, expressed the opinion that the disposition to approve a change in major shareholder is illegal both procedurally and substantively, and considering its potential impact on the future media market, it should be possible to revoke the approval.
Ko Min-su (Rep.) stated, "When enforcing laws, they must comply with the Constitution. However, the former Korea Communications Commission issued a ruling approving a change in major shareholders that contradicts the Korea Communications Commission Act, which guarantees independent operation of broadcasting freedom, and it also failed to meet the required quorum for decision-making."
He then stated, "When selling a dedicated news channel or an over-the-air broadcaster, various entities should be allowed to participate. However, there are official documents regarding the integrated sale of shares, and handing them over to a single person is problematic." He added, "Furthermore, there are countless reasons why the actions of the Korea Communications Commission violate the Constitution and laws."
As the committee members' opinions diverged, it became increasingly likely that the YTN-related agenda item would be brought up again at the next meeting. Mr. Ko Min-soo, who represented Kim Jong-cheol (Chairman) in filing an avoidance request on this day, stated, "I, currently serving as Acting Director for Agenda Item Yeo Bu-neun (Chairman), will decide whether to bring it up at the next meeting," and added, "Even if the agenda item is brought up, I can express my individual opinion and exercise my authority."
in TECH
