Overhaul of Newspaper Rule Under Consideration: FTC Chief

Fair Trade Commission (FTC) Chairman Baek Yong-ho announced that the corporate regulator would seek to overhaul its tight governance of the newspaper market, which has been attacked as excessive interference.

In an interview with Yonhap News Agency on Sunday, Baek said that he was well aware of such criticisms and that the FTC will overhaul the regulation, which requires the disclosure of newspaper subscriptions by newspaper firms.

An official at the corporate watchdog said, “We have already begun collecting the opinions regarding how to change the regulation from the press including the Korean Association of Newspapers, and plan to take opinions of related government agencies into consideration for the revision and the implementation of new regulations.”

In 2001, the regulation was created to be controlled by the newspaper industry. However, in May 2003, it was revised to allow the FTC to get directly involved in the newspaper market for regulation.

Since the revision, the commission has been conducting high-handed investigations on newspaper companies to see if they abide by the regulation limiting them from giving out free gifts and newspapers.

In particular, most of the investigations and disciplinary actions have been focused on major newspaper companies such as the Dong-A Ilbo, the Chosun Ilbo and JoongAng Ilbo, stirring a controversy that the government is cracking down on the press critical of the administration.

higgledy@donga.com