South korean multinational conglomerate company

Gija Joseon was purportedly founded in the 12th century BC, but its existence and role have been controversial in the modern era.

South korean multinational conglomerate company

Kookje Daily News of BusanEconomic Framework During the period from toSouth Korea suffered a serious setback in its national economy because of the financial crisis that had also engulfed a few other Asian countries.

This was a serious blow to the Korean self-esteem since by that time Korea had been continuing a highly successful rapid economic development for three consecutive decades.

The International Monetary Fund stepped in, pressuring Korea to do a massive restructuring of its management of the financial institutions, liberalizing of regulatory mechanisms, and improving on the transparency in the accounting and administration of business operations.

Owing to a nationwide rally, its economy bounced back in During the setback period, the media sector as a whole also incurred a sharp downturn in advertising revenues, but since the business has begun to regain its vitality.

The South Korean press draws almost 80 percent of its revenue from advertising, with the remaining 20 percent coming from subscription fees.

The high rate of dependence on advertising means potential power of advertising sponsors, media owners' special care about the news that touches on such sponsors, and the need to drive up circulations, the base of ad rates.

According to the Korea Press Foundation, a national sample survey of media personnel shows that media employees consider advertisers' pressure and their own media's internal interference as the two highest sources of threat to press freedom: They rate the threats coming from governmental sources and legal constraint at the scores of 7.

Survey results like these are being touted by the government as evidence of the need for press reform to be done from inside. Indeed, a major report on the Korean press compiled in by the Kwanhun Club, a society of career journalists, concurred by concluding that any further progress of the Korean press depends on the press industry's willingness to tackle its own issues.

Press unions and civic groups champion this cause. They specifically demand that the "rights to editorial independence" be guaranteed by an internal mechanism like editorial board so that the management cannot interfere with editorial decision-making processes.

They further demand that a formal regulation be instituted to limit the proportion of the press owners' stocks to 30 percent of total assets. A bill to this effect has been pending in the National Assembly, Korea's parliament, for a couple of years, but supporters of the bill are a minority and many politicians are not willing to antagonize the powerful press moguls with such legislation.

Even the government administration finds the bill problematic in terms of free-market ideals. The so-called "rights to editorial independence" is a uniquely Korean concept.

It doesn't refer to the concept of independent press free from political or ideological affiliations.

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It is a concept that tells the press owners to take their hands off from the decision-making processes in the newsroom. And it is based on the assessment that press owners are readily susceptible to governmental and ad sponsors' pressure because of their business interest.

Owners of the press institutions hold a different view, of course. They suspect that such a demand is a ploy by the activist unions and the progressive subgroup of the news-room staff to shape the press along the lines of their political and ideological objectives.

Press unions are gaining influences in the management of their institutions. About 17, of Korea's 38, media employees are union members; employees at most major media institutions are unionized.

The total of 38, media employees includes: Media employees are a dominated market at 85 percent male. The unions at television networks are especially strong, and their relationships with the management are often confrontational and acrimonious. Press unions are keenly interested in expanding newsroom prerogatives against management interference over editorial matters.

On the other hand, such unions tend to go along with the management on measures related to the profit maximization of their media.

South korean multinational conglomerate company

Many of the local dailies are known to pressure their reporters to recruit ad sponsors for the well-being of their companies. Of this total Daily papers' struggle to capture the ad market is fierce, to say the least. It is especially so because the top three dailies monopolize 74 percent of the nation's total circulation.

The top three compete for a bigger share of ad revenues to remain on the top ladder; the other national dailies do the same not to fall behind; and the majority local dailies just to survive. Their competition is akin to circulation wars.You are keen on quiz-solving? (car quiz, sport quiz, movie quiz, logo quiz, math quiz, trivia, football club quiz a.s.o.).

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