South Korea's Broadcast Media and Telecommunications Commission conditionally approved Hyundai Home Shopping's corporate split to separate its home shopping business from its investment business.

The commission held its 49th plenary meeting of 2026 on Nov. 13. It decided to approve a change-approval application tied to Hyundai Home Shopping's corporate split and to impose five conditions.

Hyundai Home Shopping will separate its investment business through the split and establish a new entity tentatively named Hyundai Home Shopping Holdings. The existing Hyundai Home Shopping will remain as the surviving company and continue operating the home shopping business, while the new company will assume stakes in existing affiliates.

The commission operated a seven-member panel of expert reviewers, chaired by Choi Soo-young, from Nov. 4 to 6 to assess seven review items.

Hyundai Home Shopping received a finding of suitability in all items. However, reviewers raised the need for measures to address concerns about reduced management transparency and possible fund outflows following its conversion to an unlisted company, as well as the management of assets allocated to the new investment company.

The commission imposed approval conditions to secure management transparency and maintain financial stability. To ensure the board's management oversight function and independence, it required the ratio of outside directors to be maintained at least at the level at the time of the change-approval application. It also required submissions to the commission of matters related to dividends and related-party transactions.

For liabilities incurred before the split, it required joint and several liability to be maintained for the surviving company and the new company. It also required the new investment company to inject 50 billion won into resources for responsible management to support stable operation of the home shopping business and meet financial needs, and to submit a letter of commitment guaranteeing implementation.

It also imposed conditions aimed at mutual growth with partner companies. Hyundai Home Shopping must keep the execution rate of its mutual growth fund for partners and the number of supported companies at least at the levels stated in the change-approval application.

Kim Jong-cheol (김종철), chairman of the commission, said the review focused on the impact of the corporate split on the stability and continuity of the broadcasting business. He stressed that Hyundai Home Shopping must faithfully implement the approval conditions and fulfill its responsibilities to stakeholders including viewers and suppliers.