Yujin Group Acquiring YTN "Aiming to Re-enter Broadcasting and Content Business"

Scheduled for Approval by the Korea Communications Commission

Yujin Group, which has acquired the news channel YTN, has officially stated that its goal is to "re-enter the broadcasting and content business."

On the 23rd, Yujin Group announced in a press release, "Approaching its 70th anniversary, Yujin is a leading mid-sized group in South Korea that understands the role of the media in pursuing fairness and the characteristics of broadcasting that emphasize speed and accuracy. Through acquiring shares of YTN, South Korea's representative news channel, we aim to re-enter the broadcasting and content business."

Yujin Group added, "In the past, Yujin significantly grew its cable broadcasting business (SO), currently operates PP (program provider) businesses such as music broadcasting, and has over 10 years of experience as a private contractor in the public lottery business."

Once the Korea Communications Commission approves the change of the largest shareholder, the share sale process will be completed, making Yujin Group the largest shareholder of YTN. Yujin Group stated, "Although we were selected as the preferred negotiator through bidding, we will prepare thoroughly as the approval from the Korea Communications Commission is pending," and added, "We will provide further details and future plans at an appropriate time."

Yujin Group has become the final acquisition candidate for 13 million shares (30.95%) of YTN. Previously, KEPCO KDN and Korea Racing Authority, which held 30.95% of YTN shares, selected Yujin Group as the successful bidder for the share sale this afternoon with a bid of 319.9 billion KRW.

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