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Telecommunications & Media

Court cancels KCC approval of YTN top shareholder change

A Seoul administrative court cancelled the Korea Communications Commission’s approval of a change in YTN’s largest shareholder, citing an unlawful decision-making process by a two-member commission. The court said a collegial body requires at least three members to function properly. It dismissed a related lawsuit by the YTN union for lack of standing. The dispute arose after Yujin ENT acquired a 30.95 percent stake held by KEPCO KDN and the Korea Racing Authority.

Finance

FSS notifies five banks of 2 trillion won in fines over Hong Kong ELS

The Financial Supervisory Service sent preliminary notices to five banks regarding roughly 2 trillion won in combined fines and penalties over alleged misselling of Hong Kong H Index ELS. KB Kookmin, Shinhan, Hana, NH Nonghyup and SC First were notified, while Woori Bank was excluded due to smaller scale. The FSS is said to have calculated fines based on sales amounts. The case will go to a sanctions committee on December 18, with the Financial Services Commission to confirm the final amounts.

Crypto

MegaETH cancels USDm pre-deposit, to refund all after error

MegaETH cancelled its USDm pre-deposit bridge and will refund all deposits after errors disrupted the process. The event, launched with a 250 million dollar cap and later expanded, was hit by access problems linked to a third-party provider and misconfigured multisig settings. The team apologised and said refunds will begin after a smart contract audit. MegaETH plans to resume a USDm–USDC conversion bridge ahead of its Frontier beta launch.