Busan Chamber of Commerce and Industry Issues Statement Urging Normalization of International Newspaper Management for Regional Economy

Urgent Call for Prompt Resolution from Responsible Management at Neungin Seonwon

"Resolve Employee Wage Arrears and Conclude Sale Procedures"

The Busan Chamber of Commerce and Industry (Chairman Yang Jae-saeng) issued a statement on the 10th strongly urging the normalization of management at the local media outlet, Kookje Sinmun.

The statement contains a strong message from the local economic community calling for the normalization of Kookje Sinmun’s management, which is facing an existential crisis due to chronic deficits and unpaid wages caused by the major shareholder’s poor management, emphasizing the newspaper’s positive role in regional development.

According to the statement, the local business community believes that in the midst of severe difficulties in corporate conditions and the everyday economy caused by high interest rates and high inflation, the active role and support of local media are urgently needed.

It pointed out that since its founding on September 1, 1947, Kookje Sinmun has been a representative local newspaper that has served as a compass and watchdog for regional development over the past 77 years despite ups and downs such as suspensions and resumptions of publication. The failure of this media outlet, which has been part of the local community, to perform its proper function is not merely an issue of an individual media company but causes direct harm to the entire local community.

The local economic community strongly supports the normalization of Kookje Sinmun for the overall development of the local community and strongly urges Neungin Seonwon, which holds fundamental responsibility for the situation, to promptly prepare resolution measures considering the interests of the community and the public.

They urged Neungin Seonwon to immediately resolve issues related to poor management, including unpaid wages, so that the members of Kookje Sinmun can fulfill their roles as journalists. They also called for a swift conclusion to the ongoing sale process of Kookje Sinmun, emphasizing the need for a magnanimous approach to the normalization of management of the region’s representative daily newspaper.

Yang Jae-saeng, chairman of the Busan Chamber of Commerce and Industry, stated, “The fact that Kookje Sinmun, a prominent local media outlet, is unable to function properly due to poor management inevitably has a negative impact on the sound development of the entire local community.” He added, “From the perspective of the local economic community, we will carefully monitor the current situation of Kookje Sinmun and actively support whatever is necessary for its normalization.”