Yonhap News TV gets final approval from gov't

SEOUL (Yonhap) - South Korea's communications watchdog, Korea Communications Commission (KCC), said Wednesday that it has given final approval to Yonhap News Agency's all-news cable television channel.
The new TV station, tentatively named Yonhap News Television, has been established after a consortium led by Yonhap News Agency, South Korea's key news service, won the all-news cable television license in an open bidding process supervised by the KCC last December.
Yonhap News Agency holds the largest stake in Yonhap News Television, which is scheduled to formally launch the nation's second news-only cable TV channel in October after a two-month test period.
Yonhap News Television held its inaugural shareholders meeting and a board of directors meeting on March 15 and elected Park Jung-chan, president and CEO of Yonhap News Agency, as its president and CEO.
Yonhap News Agency is South Korea's largest news provider, producing content for newspapers, broadcasters, Internet portals, the government and private enterprises on a scale of about 3,000 news articles per day, the largest volume by far among local news organizations.
With a pool of some 550 reporters, Yonhap's coverage consists of a wide variety of multimedia news content, from articles and photos to video and graphics. Its network of 62 correspondents operates in 46 countries abroad, and its real-time news service is also provided in English, Chinese, Japanese, Arabic, Spanish and French.
Taking advantage of its international news infrastructure, Yonhap News Television is also planning to offer broadcasts in foreign languages.