"KBS Must Establish and Submit Mid- to Long-Term Plans," Jo Seung-rae Proposes Broadcasting Act Amendment

[Asia Economy Reporter Seulgina Jo] Jo Seung-rae, a member of the Democratic Party of Korea (Daejeon Yuseong-gu Gap), announced on the 28th that he has taken the lead in proposing the "Partial Amendment to the Broadcasting Act" to support the stable operation of the Korean Broadcasting System (KBS).

The main content of the amendment to the Broadcasting Act is to require KBS to establish a mid- to long-term financial management plan for more than five years, including mid- to long-term management goals, business plans, investment directions, financial forecasts, and their grounds, and to submit this plan to the relevant standing committee of the National Assembly and the Korea Communications Commission.

The current Broadcasting Act only stipulates that KBS's expenses are to be covered by income from television broadcasting fees and broadcasting advertisements, but does not separately regulate plans for expanding resources or operational plans from a long-term perspective.

Although the domestic broadcasting advertising market is shrinking due to the entry of overseas video platforms and the growth of the online advertising market, the broadcasting fees have been frozen for decades, raising concerns about the need for mid- to long-term measures to ensure the stable operation of public broadcasting.

Representative Jo Seung-rae said, "To overcome the internal and external crises blowing through the domestic broadcasting industry, we need to consider a fundamental transformation," and added, "Public broadcaster KBS also needs to establish its own mid- to long-term plans for stable operation."

This content was produced with the assistance of AI translation services.