Bangtongwi, SBS-e "Midieorepsa Jibun 40%→10%ro Julyeora"

Held General Meeting on the 7th and Passed Resolutions

[Asia Economy Reporter Cha Min-young] The Korea Communications Commission held a plenary meeting on the 7th and announced that it ordered SBS, which owns 40% of the shares of BS M&C Co., Ltd., to rectify the violation within six months from the date of receiving a corrective order for violating the ownership restriction regulations for large corporations under the "Act on the Sale of Broadcast Advertising Agency, etc."

SBS's parent company group, Taeyoung, was designated as a mutual investment restriction business group (large business group) with total assets exceeding 10 trillion won as of May 1. Accordingly, the media representative company SBS M&C Co., Ltd. must reduce its shareholding to within 10%.

According to the Act on the Sale of Broadcast Advertising Agency, etc., affiliated companies and subsidiaries (including special related parties) of mutual investment restriction business groups with total assets of 10 trillion won or more cannot own more than 10% of the total shares or equity of a media representative company.

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