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[Alpha Biz=(Chicago) Reporter Kim Jisun] Eugene Group won 30.95% of the stake in YTN, a news channel, held by KEPCO KDN and the Korea Racing Authority.
According to the industry on the 24th, Eugene Group was selected as the winning bidder for the stake held by KEPCO KDN and the Korea Racing Authority by offering 319.9 billion won in the bid at the Grand Hyatt Seoul Hotel presided over by Samil Accounting Corp., the organizer of the sale of YTN.
Eugene Group, Hansae Industrial Co. and the Global Peace Foundation participated in the bidding that ended on the 20th. Among them, Eugene Group was selected as the final bidder.
The Korea Communications Commission will review and review the approval of the change in the largest investor according to the procedure.
If KEPCO KDN, which owns a stake in YTN, and the board of directors of the Korea Racing Authority finally vote to sell the stake, they will sign a contract with Eugene Group.
Under the Broadcasting Act, Eugene Group must apply for approval of the change to the KCC within 30 days of the signing of the stake acquisition contract, and the KCC will notify the applicant of the result within 60 days of receiving the application.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
