Rep. Hong Ihk-pyo, left, the floor leader of the main opposition Democratic Party of Korea, speaks in a party leadership meeting at the National Assembly in Seoul, Nov. 21. Yonhap
The floor leader of the main opposition Democratic Party of Korea (DPK) warned Tuesday that officials of the state broadcasting watchdog will be held accountable if they cooperate for an education foundation's bid to take control of Yonhap News TV.
Rep. Hong Ihk-pyo issued the warning as the Korea Communications Commission (KCC) was set to deliberate on Eulji Education Foundation's request for approval to become the largest shareholder in the 24-hour news cable channel affiliated with Yonhap News Agency.
The DPK has denounced Eulji's bid, raising suspicions that the move could be part of the Yoon Suk Yeol government's attempt to increase influence over broadcasting stations ahead of April's parliamentary elections.
The party has also said the foundation is not qualified at all to become the broadcaster's largest shareholder, citing a series of alleged irregularities and ethical lapses, including the foundation chairman's history of illegal drug use.
"We will make sure to hold KCC officials accountable legally and politically if they cooperate with KCC Chairman Lee Dong-kwan in the course of privatization of broadcasters," Hong said during a party meeting. "We warn once again not to take part in Chairman Lee's illegal acts."
Yonhap New Agency, Korea's key news wire agency, is currently the No. 1 shareholder of Yonhap News TV with a 29.89 percent share, slightly below the 30 percent cap stipulated by the Broadcasting Act.
Exploiting the loophole, Eulji has increased its share to 30.08 percent and is awaiting the KCC's approval. (Yonhap)
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