Government: "No Discussion on YTN Share Sale Today"... Under Review by Public Institution Innovation TF

[Image source=Yonhap News]

[Asia Economy Sejong=Reporter Kwon Haeyoung] The government announced on the 23rd that it has not yet discussed the issue of KEPCO KDN's sale of YTN shares. However, KEPCO KDN has submitted a plan to sell YTN shares to the government, and it is reported that the public-private joint public institution innovation task force (TF) is reviewing this, raising the possibility that this issue will be discussed at the Public Institution Management Committee next month.

Choi Sang-dae, the 2nd Vice Minister of the Ministry of Economy and Finance, said at a briefing on 'Measures to Strengthen Cooperation between Private and Public Institutions' held at the Government Seoul Office Building on the same day, in response to a question about whether the issue of KEPCO KDN's sale of YTN shares was discussed, "There was no specific discussion related to that part in today's meeting."

He added, "According to the public institution innovation guidelines presented by the government last July, each institution submitted an innovation plan by the end of August, and the public-private joint public institution innovation TF is reviewing this part. Through such consultations and adjustments, if it is submitted to the Public Institution Management Committee and decided, it will be announced sequentially."

The government is requiring the sale of unnecessary assets to innovate public institutions. KEPCO KDN submitted an asset sale plan including the sale of YTN shares to the Ministry of Trade, Industry and Energy, and the ministry reportedly submitted it to the Ministry of Economy and Finance. The Ministry of Economy and Finance rejected asset sale plans submitted by public institutions if the assets were not unnecessary, and it is known that KEPCO KDN's sale of YTN shares was not included in the rejected cases.

An official from the Ministry of Economy and Finance said, "The specific asset sale plans of public institutions are scheduled to be decided at the Public Institution Management Committee at the end of October."

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