Decision to Sell Public Enterprise Shares... YTN Says "Privatization Efforts Must Stop"

YTN urged public enterprises that decided to jointly sell their company shares to stop privatization. This move follows the announcement on the 5th that KEPCO KDN and Korea Racing Authority signed an agreement to jointly sell their YTN shares. KEPCO KDN and Korea Racing Authority held 21.43% and 9.52% of YTN shares, respectively. Combined, the two companies hold 30.95% of the shares.

On the 7th, YTN stated in a press release, "We urge the government and public institutions to immediately halt the unilateral push for privatization and participate in a social deliberation process so that YTN can be reborn as a news-specialized channel trusted by the public."

They added, "It is very regrettable that the public institutions and government, as major shareholders of YTN, are unilaterally proceeding with the sale of shares while disregarding the deliberation process involving scholars and experts in the public forum."

Furthermore, they emphasized, "The sale of YTN shares should be considered from a media policy perspective, including measures to maintain the public nature of the news channel and minimize negative impacts on the broadcasting market."

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