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Telecommunications & Media

Broadcasting Media Telecommunications Commission cuts YTN, Yonhap News TV approval period by 3 months over CEO recommendation committee

South Korea\'s Broadcasting Media Telecommunications Commission imposed a three-month cut to the approval validity period for YTN and Yonhap News TV for failing to form a CEO recommendation committee required under the Broadcasting Act. The commission ordered both broadcasters to rectify the violations by Oct. 10. It said earlier corrective orders issued in May were not met by the July deadline and noted the violations have persisted for about a year since the law took effect.

Telecommunications & Media

SK Broadband spotlights young CEOs settling in regions with \'Great Uncle\' Season 2

SK Broadband said on Sunday it will premiere Season 2 of its jointly produced programme, \'Great Uncle: Birth of a Local Hero\'. The series tells stories of young chief executives who settle in rural, fishing and mountain villages and start new businesses. The new season will run for six episodes featuring entrepreneurship and local co-prosperity cases. It is narrated by comedian Nam Hee-seok and announcer Oh Young-sil.

Crypto

Delio chief gets 15 years in jail in coin withdrawal suspension case

A Seoul court sentenced the head of crypto deposit-and-interest service Delio to 15 years in prison at first instance for fraud and other charges over allegedly diverting customers\' virtual assets. The court said the defendant swindled large sums from many victims and had not been forgiven by those who suffered serious economic losses, but considered external factors that triggered the case and the lack of prior punishment beyond fines. The court convicted him on a reduced set of charges.