SEOUL: South Korea's parliament has postponed a vote on controversial legislation that would allow media companies to simultaneously own both print and broadcast operations in the country for the first time.

As reported in a recent analysis of the Korean advertising environment, there is 100% TV and radio penetration in the country, and some 52 TV terrestrial stations are currently available.

Under the proposed terms of the new legislation, media companies and newspapers could take a share of 20% in local terrestrial broadcasters.

The country's government, currently formed by the Grand National Party, supports the motion, which would consolidate the media industry at a time when it faces a vast array of challenges.

The opposition Democratic Party, by contrast, argues that the proposed changes in ownership structure would lead to a monopoly of media ownership by a small group of companies.

The vote was delayed for another 100 days so that further discussions could take place and a final vote in the National Assembly.

Data sourced from; additional content by WARC staff