Ministry of Science and ICT Cancels Registration of 58 Broadcasting Channel Operators by Authority

[Asia Economy Reporter Koo Eun-mo] On the 5th, the Ministry of Science and ICT announced through the official gazette and the Ministry’s website that it has canceled the registration of all broadcasting channel usage business operators (PPs) who have already closed their businesses under the Value-Added Tax Act, ex officio.

This registration cancellation follows the amendment of related broadcasting laws that allow the ex officio cancellation of PPs that have not broadcast for a long time. Before the enforcement of the amended law, there was no official PP expulsion system, which led to concerns about the inflation of the total number of PPs and the possibility of illegal activities (such as attracting false investments) by some insolvent PPs abusing their status as broadcasting operators.

After the law came into effect, the Ministry of Science and ICT, in cooperation with the National Tax Service, identified 58 PPs (49 corporations) that had closed under the Value-Added Tax Act. The Ministry conducted hearings with the relevant PPs, finalized the list of PPs subject to registration cancellation, and notified them in writing.

Oh Yong-soo, Director of Broadcasting Promotion Policy at the Ministry of Science and ICT, stated, “This PP registration cancellation is the first since the enactment of the Broadcasting Act and the introduction of the PP registration system. We expect this measure to resolve market disruptions caused by insolvent PPs and difficulties in regulatory enforcement.” He added, “Along with cleaning up insolvent PPs, we will continue policy efforts to promote the PP industry and strive to develop the paid broadcasting ecosystem.”

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