Yujin ENT, YTN's largest shareholder by investment amount, asked the Broadcasting Media Communications Commission in the United States to put off procedures to cancel approval for a change in YTN's largest shareholder until after an appellate ruling is delivered.

Yujin ENT sent an official letter with the request to the commission on Oct. 30. The Seoul High Court ended appellate hearings in the case seeking cancellation of the approval for changing YTN's largest shareholder (2026Nu3026) and set the verdict for 2 p.m. on Dec. 18.

The Seoul Administrative Court cancelled the approval on Nov. 28 last year, citing illegality in a decision by the two-member Korea Communications Commission. Yujin ENT appealed as an assistant intervenor.

The U.S. commission began procedures to cancel the approval following that ruling. The first stated reason in the ongoing hearing is also whether the two-member commission's decision was illegal.

In its letter, Yujin ENT argued that because the appellate court's judgment on the same issue will come in about 7 weeks, proceeding with the cancellation process before then could lead to differing conclusions by the administrative authority and the court. It said this could also affect the opportunity to obtain judicial review by a higher court.

It also stressed that because there is no statutory deadline for the approval cancellation procedure, delaying it for about 7 weeks would not significantly harm the public interest. It said moving ahead after the court ruling could enhance the legitimacy of the disposition and legal stability.

It therefore asked the commission to suspend the ongoing procedures to cancel the approval, including a hearing scheduled for Nov. 3, until after the appellate verdict is delivered.

Yujin ENT previously applied on Oct. 28 through its legal representative to change the hearing date, citing an insufficient period to review materials and other reasons.

A Yujin ENT official said, "Respecting the court's judgment and proceeding with follow-up steps based on the result is a reasonable option for both the commission and the parties." The official added, "Regardless of whether the procedures are suspended, we will faithfully comply with the conditions of the approval for the change and fully cooperate with the commission's procedures."