Court revokes approval of change in largest shareholder in YTN TV

A court on Friday ruled in favor of employees of all-news TV channel YTN over an approval by the broadcasting regulator that changed the broadcaster's biggest shareholder. In February last year, the then Korea Communications Commission, which was abolished and reorganized as the Korea Media and Communications Commission, decided to approve the application by Eugene ENT Co. to become the largest shareholder of YTN. The Seoul Administrative Court ruled that the regulator's decision was illegitimate because it was made with only two members of the commission's decision-making body, instead of five members eligible for quorum for voting. The court said it was desirable for the commission to make a decision if three of the five members vote for it. "If there are only two active members, it is structurally difficult to implement such functions, and it does not conform to the fundamental idea of a consensus-based administrative agency, which requires the presence of multiple members," the court said. Such a situation would essentially allow the majority to handle matters on its own, while deprivWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times