Chaebol, Press And Foreigners Can Start Satellite Broadcasting

Home > Culture > Features

print dictionary print

Chaebol, Press And Foreigners Can Start Satellite Broadcasting

Chaebol groups, newsmedia companies and foreigners can now take part in the satellite broadcasting business.
The Broadcasting Reform Committee(BRC) announced on February 11 that big business groups(chaebol), newsmedia companies, and foreigners can invest up to 33 percent in businesses which own satellites or in those companies which lease satellite broadcasting. They can also own up to 33 percent of companies which supply programs by renting channel frequencies from satellite owners or satellite leasing businesses.
Kang Won Ryong, Chaisman of BRC, said, 'As soon as the new broadcasting law is passed in the National Assembly, we will permit satellite broadcasting businesses.'
Officially, Korea does not have any Korean-owned satellite broadcasting although the government-owned KBS-2 channel is currently running trials on a limited basis. Several companies have waited in limbo, after investing untold millions, for a new broadcasting law which has been pending for several years.
This decision will trigger satellite broadcasting businesses that have been staggering due to the delay of a final decision. Korea Telecom, Dacom, and several newspaper companies are expected to resume efforts to form satellite broadcasting businesses in full scale.
The BRC also decided to split Social Education Broadcasting, for North Korean listeners, from International Broadcasting which provides programs for foreigners and Koreans in foreign countries.
These two broadcasters will be consigned to KBS along with Arirang TV which will be seperated from the International Friendship Association.
Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)