Democratic Party Media TF: "Yoon Suk-yeol Administration Behind Forced Sale of YTN... Lee Dongkwan and Lee Kwanseop Must Be Investigated"

The Democratic Party of Korea’s Task Force for Strengthening Media Publicness (Media TF) has urged an investigation into individuals involved in the YTN share sale audit conducted by the Board of Audit and Inspection of Korea, asserting that “the forced sale of YTN was carried out amid all-out pressure from the Yoon Suk-yeol administration.”

Choi Minhee, Supreme Council Member active in the Democratic Party of Korea's Task Force for Strengthening Media Publicness. Photo by Yonhap News Agency

On September 14, the Media TF released a statement saying, “The Board of Audit and Inspection has revealed that there were ‘unjust directives’ from the administration to public institutions during the YTN share sale,” asserting their position as above.

It is reported that, in connection with the YTN share sale process, the Board of Audit and Inspection has forwarded materials for investigation on former Chairman Lee Dongkwan, who was Chairman of the Korea Communications Commission at the time, and Kang Kyungsung, then Vice Minister of Trade, Industry and Energy and now CEO of KOTRA, to the Corruption Investigation Office for High-ranking Officials.

The TF particularly focused on the change in the YTN share sale method, from the initial ‘joint sale of less than 30%’ to an ‘entire 31% block sale.’ At the end of August 2023, Korea Electric Power Data Network (KDN) and Korea Racing Authority agreed to jointly sell 29.99% of the approximately 31% YTN stake they held. According to the TF, this was designed to allow large firms and media outlets to participate in the bidding by staying within the ownership restrictions set by the Broadcasting Act at the time.

However, the TF claimed that shortly after Lee Dongkwan took office as Chairman in September of the same year, circumstances changed. According to the TF, Lee demanded a ‘full block sale’ of the YTN shares from the Ministry of Trade, Industry and Energy, and in the process of implementing this, former Vice Minister Kang confirmed this was an administration-level directive through Lee Kwansub, then Presidential Secretary for National Planning.

The TF stated, “The Lee Dongkwan-Kang Kyungsung connection and the Lee Kwansub-Kang Kyungsung connection were activated concurrently, ultimately enforcing the ‘full block sale,’” and added, “It is highly probable that former Chairman Lee Dongkwan either took the lead in coordinating between the Presidential Office and the Ministry of Trade, Industry and Energy, or was carrying out directives from the Presidential Office.”

The TF further claimed, “The reason the administration intervened comprehensively to change the sale method was to grant favors to a specific company. There is simply no other possible explanation.” The group called on the Corruption Investigation Office for High-ranking Officials to broaden its investigation beyond former Chairman Lee Dongkwan and KOTRA CEO Kang Kyungsung, who were referred by the Board of Audit and Inspection, to include all related figures such as former Presidential Secretary Lee Kwansub.

Meanwhile, the TF includes lawmakers such as Choi Minhee, Lee Jeongmoon, Lee Juhee, and Noh Jongmyeon.

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