Civic group to file complaint against Eulji Education Foundation

▲ Eulji University's Seongnam campus (Yonhap)

Eulji foundation-civic complaint

Civic group to file complaint against Eulji Education Foundation

SEOUL, Nov. 29 (Yonhap) -- A civic group said Wednesday it plans to file a criminal complaint against owners of a local education foundation accused of attempting to take over control of Yonhap News TV, a 24-hour news channel, on charges of embezzlement and breach of trust.

Spec Watch Korea said the complaint will be filed with the Seoul Central District Prosecutors Office on Thursday to call for an investigation into suspected embezzlement and breach of trust by Eulji Education Foundation Chairman Park Joon-young and his wife, Hong Sung-hee, who is now serving as chairwoman of the foundation-affiliated Eulji Medical Center.

The Eulji foundation has drawn fire for trying to deprive Yonhap News Agency, South Korea's key newswire, of its largest shareholder status for Yonhap News TV after raising its stake in the channel to 30.08 percent. Yonhap News Agency owns a 29.89 percent stake in Yonhap News TV, slightly below the 30 percent cap stipulated by the broadcasting law. The Eulji foundation is now seeking approval from the watchdog Korea Communications Commission (KCC) to take control of the broadcaster.

Referring to the Eulji Medical Center's gratuitous donation of 600,000 shares in Yonhap News TV to the Eulji Education Foundation earlier this year, Spec Watch Korea said the act appears to constitute embezzlement of the concerned right and breach of trust.

"The management of Yonhap News TV by a public interest foundation (Eulji) does not suit its business purpose," the civic group said.

"The foundation has held a stake in (Yonhap News TV) on the condition that management rights are not actually exercised. If Yonhap News TV were run by Park and other parties, instead of Yonhap News Agency, it is a violation of the Act on the Promotion of News Communications and people's right to know and a deprivation of the 50 million people's property," it said.

The civic group also called for an immediate investigation into suspicious drug prescriptions involving some foundation figures.

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