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Telecommunications & Media

MSIT, BMCC to step up policy coordination, speed up Korea broadcast media telecom promotion agency

South Korea\'s Ministry of Science and ICT and the Broadcasting Media Communications Commission are strengthening policy coordination in areas including AI, media, digital regulation and user protection. The two agencies held their first working-level meeting on Sept. 17 to follow up on a senior-level policy consultation. They will jointly discuss the planned Korea Broadcast Media Telecommunications Promotion Agency, terrestrial UHD policy and user protection in cybersecurity incidents, and cooperate on an evaluation system for incident-related user protection from 2027.

Telecommunications & Media

Korea to merge Kobaco and KCMF after bill clears parliamentary committee

A bill to merge the Korea Broadcast Advertising Corp (Kobaco) and the Korea Communications Media Foundation (KCMF) to create the Korea Broadcasting Media Communications Promotion Institute has passed the National Assembly’s Legislation and Judiciary Committee. The committee approved amendments including a revision to the Framework Act on Broadcasting and Communications Development. Some broadcasting, media and communications projects scattered across related agencies under the Ministry of Science and ICT would be transferred to the new body.

Finance

Mandatory financial firms\' contributions to inclusive finance agency extended to 2036 after subcommittee approval

Mandatory contributions by financial companies to the Korea Inclusive Finance Agency are expected to be extended to 2036. A bill to push back by 10 years the sunset clause for the contribution scheme, which was set to expire on Oct. 8, passed a legislative subcommittee of the National Assembly’s Political Affairs Committee. The proposal would keep the obligation in force through 2036 if it wins final approval.