The Broadcasting Act Amendment Approved at the Cabinet Meeting... Establishing Government Support Basis for Small and Medium SOs

[Asia Economy Reporter Eunmo Koo] The Ministry of Science and ICT (MSIT) announced that the partial amendment to the Broadcasting Act, proposed by Representative Lee Yong-bin of the Democratic Party of Korea, was approved at the Cabinet meeting on the 21st. This bill was approved at the National Assembly plenary session on the 2nd of this month.

The amendment includes provisions to establish the legal basis for the government to support small and medium-sized comprehensive cable TV operators (SOs) classified as small and medium enterprises.

The SOs classified as small and medium enterprises under the Framework Act on Small and Medium Enterprises include nine companies: Nam Incheon Broadcasting, CCS Chungbuk Broadcasting, Korea Cable TV Pureun Broadcasting, Korea Cable TV Gwangju Broadcasting, JCN Ulsan Central Broadcasting, Geumgang Broadcasting, Seogyeong Broadcasting, KCTV Jeju Broadcasting, and Areum Broadcasting Network.

The MSIT explained that this amendment was prepared to enable small and medium SOs to protect the rights and interests of local viewers despite difficulties caused by the growth of IPTV and OTT services.

The amendment will take effect six months after the law is promulgated following the President's approval.

The MSIT plans to announce a draft presidential decree detailing the specific contents and procedures for future support.

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