Jungang Ilbo M&A Sale Rumor? Police Launch Investigation to Find Spreader of False Information

Jungang Ilbo Files Complaint with Mapo Police Station in Seoul

On Charges of Defamation and Obstruction of Business

Jungang Ilbo has filed a police complaint against an unidentified individual for defamation and obstruction of business, after the individual wrote and circulated false rumors regarding a potential merger and acquisition (M&A) sale of the company.

According to Jungang Ilbo, on May 6, a message stating that "Jungang Ilbo is up for sale in the M&A market" was circulated through KakaoTalk open chat rooms and other platforms. The company reported that approximately 1,600 unspecified individuals participated in the open chat room. Jungang Ilbo further explained that the same content was subsequently disseminated to multiple other chat rooms in secondary and tertiary waves.

Jungang Ilbo Headquarters. Jungang Group

The company stated, "This is a blatant falsehood that has no connection whatsoever to the company," and added, "By specifying false information as if it were established fact in open chat rooms with high potential for further dissemination, it misled people into believing the company is experiencing a serious internal management crisis or instability in its governance structure."

The company continued, "For a corporation that publishes a comprehensive daily newspaper, credibility is a critical element of our work and affects the trustworthiness of our reporting," and pointed out that "the spread of false information undermines our external reputation and honor, disrupts overall business operations, and constitutes an act that obstructs the company’s work."

Jungang Ilbo has announced it will continue to respond strictly to any similar actions in the future.

Previously, Jungang Group had selected Colliers Korea as an advisor for the sale of three assets: the Jungang Ilbo headquarters building, the Sangam JTBC building, and the Ilsan Studio.

Meanwhile, Article 307(2) of the Criminal Act stipulates that a person who damages another’s reputation by publicly alleging false facts may be punished by imprisonment for up to five years, disqualification for up to ten years, or a fine of up to 10 million won.

Article 314 (Obstruction of Business) provides that a person who disrupts work by circulating false information or by fraudulently damaging another's credit may be punished by imprisonment for up to five years or a fine of up to 15 million won.

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