Commission Approves Hyundai Home Shopping's Retail and Investment Business Split, Imposes Financial Soundness Conditions

Conditions Require Maintaining Outside Director Ratio and Guaranteeing KRW 50 Billion Investment

The Broadcasting, Media and Communications Commission approved Hyundai Home Shopping’s plan to separate its retail and investment businesses into separate corporations. It also imposed conditions to ensure the stability and financial soundness of the surviving corporation.

Kim Jongcheol, chair of the Broadcasting Media and Communications Commission, is presiding over the 49th plenary meeting of 2026 at the Government Complex Gwacheon on the 13th. Broadcasting Media and Communications Commission.

On November 13, the Commission held its 49th plenary meeting at the Government Complex Gwacheon and approved Hyundai Home Shopping’s application for a change of approval following its corporate split.

Hyundai Home Shopping will spin off its investment business and establish a new company, tentatively named Hyundai Home Shopping Holdings. The surviving corporation will operate the home shopping business, while the new company will take over the shares in affiliates currently held by Hyundai Home Shopping.

From November 4 to 6, the Commission formed a seven-member expert review committee chaired by Commissioner Choi Soo-young to assess seven review criteria.

Concerns were raised that Hyundai Home Shopping’s transition to an unlisted company could reduce management transparency. There were also calls for safeguards against the possible outflow of company funds and to address issues related to how the new investment company manages its assets. The Commission required the company to maintain the proportion of outside directors on its board at or above the level stated in its application and to submit information on dividends and transactions with related parties.

The Commission also required the company to submit a letter of commitment guaranteeing an investment of KRW 50 billion in the new investment company’s responsible management fund. It also required the company to maintain the execution rate of its mutual-growth fund for business partners and the number of supported companies at or above the levels stated in its application.

Kim Jong-cheol, chairman of the Broadcasting, Media and Communications Commission, said, "We focused on examining the impact of the corporate split on the stability and continuity of the broadcasting business and imposed the necessary conditions to ensure that the business is not disrupted. Hyundai Home Shopping must faithfully comply with the approval conditions and fulfill its responsibilities to viewers, suppliers, and other stakeholders."

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