Yonhap News Agency, South Korea's key news service, has been granted a license to launch an all-news cable television channel, the nation's broadcasting regulator said Friday, announcing a list of winners of new general programming and news-only cable television licenses.
A consortium led by Yonhap defeated three other consortiums to become the sole winner of the nation's third news-only cable television license, Choi See-joong, chairman of the Korea Communications Commission, said in a news conference.
Four media consortiums led by South Korea's leading daily newspapers -- Chosun Ilbo, Dong-A Ilbo, JoongAng Ilbo and Maeil Business Newspaper -- won licenses for general programming cable television channels, Choi said. Six consortiums vied for the nation's first general programming cable television licenses.
With Yonhap's entry, South Korea's cable television news market now controlled by YTN and MBN is expected to undergo sweeping upheavals.
Yonhap News is South Korea's largest news provider, producing content for newspapers, broadcasters, Internet portals, the government and private enterprises on a scale of about 3,000 news articles per day, the largest volume by far among local news organizations.
Major newspaper companies in South Korea have sought after the new general-interest and all-news channel licenses, as the government is determined to increase the number of broadcasters to promote diversity and stimulate the relevant industries. At present, Korea has three terrestrial broadcasters -- KBS, MBC and SBS.