KCC Issues Second Correction Order to Samra for Violating Large Corporation Terrestrial Broadcaster Ownership Restrictions

[Asia Economy Reporter Lim Hye-seon] The Korea Communications Commission held a plenary meeting on the 27th and issued a second corrective order to Samra for violating regulations restricting large corporations from owning terrestrial broadcasting operators. Samra is the largest shareholder of Ulsan Broadcasting.

Samra violated the regulation that prohibits holding more than 10% of shares in terrestrial broadcasting. This regulation applied after Samra was designated as a large corporation with total assets exceeding 10 trillion won by the Fair Trade Commission in May last year. Samra owns 30% of Ulsan Broadcasting's shares. In July last year, Samra received a corrective order from the KCC to dispose of Ulsan Broadcasting shares but failed to comply. With the KCC's second corrective order, Samra must dispose of the shares by October.

Additionally, on the same day, the KCC approved MBC's application to change the content investment plan in its UHD broadcasting station business plan, which was reauthorized in 2019.

MBC had planned to invest a total of 795.9 billion won in UHD content from 2020 to 2024 but applied to the KCC to reduce this amount to 629.945 billion won.

The KCC stated, "The application was approved considering compliance with UHD activation policy measures, feasibility of UHD content investment plan implementation, and the management environment."