The Korea Communications Commission Grants New Radio Broadcasting License to OBS Gyeongin TV

Establishment of OBS Gyeongin FM Broadcasting Station

[Asia Economy Reporter Cha Min-young] The Korea Communications Commission announced on the 25th that it has newly licensed OBS Gyeongin FM Broadcasting Station of OBS Gyeongin TV Co., Ltd.

The Commission judged that a new local broadcaster was needed in the Gyeonggi region after Gyeonggi Broadcasting voluntarily closed and ceased broadcasting in March 2020, and has been promoting the selection of a new radio broadcasting operator in the Gyeonggi area.

In October last year, the Commission announced the application for a license for a radio broadcasting business in the Gyeonggi region. In May, OBS Gyeongin TV Co., Ltd. was selected as the new radio broadcasting operator in the Gyeonggi region, and it was resolved that the license would be issued if OBS Gyeongin TV completed the procurement of the investment capital presented in the license application within three months. Accordingly, OBS Gyeongin TV completed the procurement of 2 billion KRW in internally reserved investment funds and 8 billion KRW in paid-in capital from a capital increase as stated in the license application, and the OBS Gyeongin FM Broadcasting Station was newly licensed.

The Commission added conditions that the newly raised investment capital for launching the radio station must be used for radio broadcasting operations, and that the shares of new shareholders must not be disposed of for three years from the date the license is issued. Additionally, faithful implementation of the business plan including payment to the Broadcasting and Communications Development Fund and compliance with other obligations of terrestrial broadcasters were included as conditions for the new license.

Chairman Han Sang-hyuk stated, “This new radio broadcasting license in the Gyeonggi region marks the first step toward restoring listening rights for residents of the Gyeonggi area,” and added, “We hope that the newly selected Gyeonggi region radio broadcaster will fulfill its public responsibilities as a terrestrial broadcaster and produce community-oriented content suitable for the new media environment, becoming a true local broadcaster loved by the residents.”

Meanwhile, on the same day, the Commission also resolved on administrative measures regarding Gyeongnam Enterprise Co., Ltd.’s violation of ownership restrictions for terrestrial broadcasters (DMB). Gyeongnam Enterprise (an investor in YTN DMB), which violated the ownership restriction provisions under Article 8, Paragraph 3 of the Broadcasting Act, was ordered to correct the violation within six months from the date of receiving the corrective order.