Amendment of Articles of Association Still Needs KCC Approval… “If Not Done by This Month, Business Is at Risk of Closure”
TBS’s status as a Seoul Metropolitan Government-sponsored organization will be revoked. TBS, which urgently needs to secure funding, is seeking ways to receive support from other public and private organizations.
However, in order for TBS, as a private corporation, to receive support from other organizations, it needs to change its articles of incorporation separately from the revocation of its status as a broadcasting organization. TBS is currently waiting for the approval of the Korea Communications Standards Commission for the amendment to its articles of incorporation.
According to Seoul City on the 10th, TBS’s status as a Seoul City-affiliated organization will be revoked starting on the 11th.
As the TBS ‘abolishing ordinance’, the ‘TBS Establishment and Operation Ordinance’, was passed by the Seoul Metropolitan Council, Seoul City’s subsidy to TBS has been cut off since June. Starting on the 11th, the status of the subsidiary will be officially revoked.
TBS has been looking for public and private organizations willing to support TBS since June.
In order for TBS to receive support from a new organization, it needs to change its articles of incorporation separately from the removal of its status as a sponsored organization. This is because the current TBS articles of incorporation still remain as articles of incorporation for a Seoul Metropolitan Government-sponsored organization. Even under the articles of incorporation, it cannot proceed with normal business without obtaining the status of a non-profit corporation under civil law.
TBS held a board meeting on the 27th of last month and decided to change the existing articles of incorporation to articles of incorporation for a non-profit corporation under civil law. It is currently waiting for the Korea Communications Commission’s approval for the amendment to the articles of incorporation.
Depending on whether and when the KCC approves the change, TBS could be on the verge of going out of business. The company’s position is that it does not have enough funds to pay its employees this month.
A TBS official said, “If permission is not granted within a short period of time, TBS will likely go through the process of closing down,” and confessed, “We are in a situation where we don’t have any wages for this month, so this needs to be resolved by this month.”
(Seoul = News 1)
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2024-09-10 19:03:16