South Korean President Park Geun-hye warns against broadcasting market monopoly; “I urge broadcasting regulators to ensure that the industry will not fall into the hands of a handful of conglomerates.”

February 25, 2014 Leave a comment

Park warns against broadcasting market monopoly

Lee Jae-cheol

2014.02.17 17:43:16

South Korean President Park Geun-hye noted Monday, “I urge broadcasting regulators to ensure that the industry will not fall into the hands of a handful of conglomerates.”
President Park said at the policy briefing by the Ministry of Science, ICT and Future Planning and Korea Communications Commission “conglomerates, which set their foot in the broadcasting market, are expanding their presence via vertical integration including increasing their broadcasting channel.” 
Park highlighted, “it is feared that small and mid-sized broadcasting companies are losing their ground, hurting broadcasting diversity,” adding “fairness and diversity are the most critical to vitalize the broadcasting industry.”
Such remark is interpreted as Park’s caution against some medial giants including CJ and TK Corporation who are enlarging their influence.
Park’s comment reflects the voices within the market that while conglomerates are increasing their cable TV channels via affiliates, this could put small and mid-size cable TV and internet TV companies in trouble.
As there could be counter effect from the enactment for deregulation of broadcasting act designed to nurture the broadcasting industry, President Park called for relevant bodies’ efforts to examine counter effect such as conglomerates’ excessive presence in the market.

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