Ministry of Science and ICT "KT Skylife to Conduct Opinion Gathering Regarding Hyundai HCN Acquisition"

[Asia Economy Reporter Seulgina Jo] The Ministry of Science and ICT announced that it will accept various opinions from the 7th to the 26th regarding the approval, public interest, and change approval review requested by KT Skylife last November to acquire Hyundai HCN.

Opinions related to this review can be submitted via mail, fax, or email. For the telecommunications sector, opinions on the appropriateness of business operation capabilities, impact on competition in the telecommunications service market, user protection, and impact on public interest can be submitted. For the broadcasting sector, opinions on the feasibility of fulfilling public responsibility, fairness and public interest, social credibility and financial capability, and protection of viewers' rights can be submitted.

KT Skylife applied for approval of stock acquisition and ownership and public interest review to acquire 100% of the shares of Hyundai HCN (a telecommunications service provider) from Hyundai Futurenet. In the broadcasting sector, KT Skylife applied for 'change approval' to become the 'largest shareholder' by acquiring all (100%) of Hyundai HCN's shares from Hyundai Futurenet, the largest shareholder of Hyundai HCN (a comprehensive cable broadcasting operator).

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