‘YTN Insu Chujin’ Yujin Enterprise, Sues Rumor Spreaders of Financial Difficulties

Yujin Corporation recently filed a complaint with the police requesting the punishment of the source who spread rumors of 'financial difficulties' during the process of acquiring YTN.

On the 12th, the Yeongdeungpo Police Station in Seoul announced that Yujin Corporation, the parent company of Yujin Group, filed a complaint against the source who spread rumors related to financial difficulties for violating the Act on Promotion of Information and Communications Network Utilization and Information Protection, etc. (defamation).

A Yujin Group official stated, "After the attempt to acquire YTN, malicious rumors circulated through information bulletins claiming that the company was suffering from financial difficulties," adding, "We suspect there may be forces behind this and have requested an investigation."

Earlier, on October 23, Yujin Group became the final successful bidder in the YTN auction by offering the highest bid of 320 billion KRW, surpassing Hanse Yes24 Holdings (234 billion KRW) and One Korea Media Holdings related to the Unification Church (126.3 billion KRW).

Since then, rumors have circulated in some market circles through information bulletins that Yujin Group is struggling to secure acquisition funds, citing the fact that they offered about 86 billion KRW more than their competitors.