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Finance

IPO market stirs as duplicate listing ban takes effect, investor sentiment still weak

More than a month after South Korea began enforcing guidelines that ban duplicate listings in principle while allowing exceptions, some long-delayed listing reviews have resumed and IPO supply in September is expected to increase. Investor appetite for IPOs remains weak, with most newly listed firms in August trading below their offer prices. New rules impose duties on parent boards and require subsidiary independence, while market watchers cite softer demand in bookbuilding and subscriptions.

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.

Games & Commerce

Kakao union formalises opposition to spin-off, seeks joint bargaining

Kakao\'s labour union has formalised its opposition to the planned corporate spin-off that would split the company into KakaoX and KakaoAI, and said it will work to defeat the proposal at a shareholders meeting. The union also plans to pursue joint bargaining at the Kakao group level in addition to talks at individual affiliates. It is seeking fuller disclosure of post-split employment and organisational plans and consultation before a planned extraordinary shareholders meeting in December.