Kim Kun-hee Stock Price Manipulation Scandal: CBS Radio Issued Severe Warning by Election Broadcasting Committee

On the 25th, the Election Broadcasting Deliberation Committee decided to issue a “warning”, which is a severe punishment, for CBS Radio’s current affairs program dealing with suspicions of stock price manipulation by First Lady Kim Kun-hee. In a February broadcast, an actor said, “The (president’s) wife’s family, including the first lady, benefited from 2.3 billion won,” and reported unconfirmed information based only on prosecutorial data, which influenced the general elections. As a result, the number of cases where the same content was broadcast and received severe disciplinary action by the Radio and Television Election Commission or the Korean Communications Standards Commission rose to five.

The content of the broadcast in question was an opinion presented by the prosecution in the first trial in the stock price manipulation case of the former Deutsche Motors chairman, who was found guilty last year on charges that Ms. Kim and her mother they had committed an accusation Profit of 2.29 billion won from Deutsche Motors stock trading comes out. The committee used the fact that the court did not accept this material as evidence as the main basis for severe punishment. Since this ruling did not concern Ms. Kim, there is room to believe that the court did not pass judgment on the data in question, and suspicions about manipulation of Ms. Kim’s stock price are being investigated. In these cases, it is customary to accept reasonable suspicions or to suspend the decision until the results of the investigation and trial are published.

The Election Broadcasting Commission also took issue with the broadcaster’s failure to provide a right of reply in dealing with suspicions of Ms. Kim’s share price manipulation. In live broadcasts where it is difficult to control the performer’s unexpected remarks, there are situations where it is difficult to provide an opportunity for a rebuttal. In this case, the counterargument is usually carried over into the next episode to balance the issue. Imposing legal sanctions that disadvantage the new license by only displaying broadcasts on a specific date rather than a series of broadcasts demonstrates a lack of understanding of broadcasting.

On the 29th, the Election Broadcasting Committee is scheduled to hear officials’ views regarding the broadcast of the MBC Current Affairs program on Ms. Kim’s luxury handbag scandal. This is a procedure followed before severe disciplinary action is taken. In March, an administrative “recommendation” was sent to SBS not to add “madam” in comments on the “Law on Special Prosecutor Kim Kun-hee”. It is true that some reports about Ms. Kim were sensational or lacked balance. However, imposing excessive disadvantages beyond the scope of common sense and deliberative customs can weaken the power monitoring function of the media. The deliberation of reports must be particularly careful to avoid saying: “Will those who are covered up be severely punished?”
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