FTC probe of Seoul media firms extended for 3 weeks

The Fair Trade Commission (FTC) plans to extend its probe of Seoul newspaper and broadcasting companies, originally scheduled to end this month, to the end of April. FTC also intends to draw up a final plan on the projected ``press ordinance,`` which would outline standards for joint sales of newspapers and restrictions on their free distribution, and submit it to the general session of the Deregulation Committee.

FTC chairman Lee Nam-Kee told reporters Monday, ``It would be difficult for us to complete the probe by the end of this month because we have not even begun investigating five companies due to delays in obtaining needed materials. We plan to extend the length of the investigation by at least three weeks.``

Of the 13 media outlets subject to the probe, the government fair trade watchdog already completed investigating the Dong-a Ilbo, Chosun Ilbo, JoongAng Ilbo and Hankook Ilbo and is currently looking at the Kyonghyang Shinmun, Segye Times, Kookmin Ilbo and SBS.

Choi Young-Hae moneychoi@donga.com