Munhwa Broadcasting Corporation

Munhwa Broadcasting Corporation

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Munhwa Broadcasting Corporation

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Description:
Munhwa Broadcasting Corporation (MBC) is one of four major national South Korean television and radio networks. Munhwa is the Korean word for "culture". Its flagship terrestrial television station is channel 11 on VHF in Seoul. Twice government-owned, the network is owned by the Foundation of Broadcast Culture (which owns 70% of the company's stock), while the Jung-Su Scholarship Foundation owns 30%. MBC receives no government subsidy, and derives its income almost entirely from commercial advertising. It has 19 regional stations, and 10 subsidiaries.<!-- What is a "subsidiary"? --> The network evolved from Busan Munhwa Broadcasting Corporation, the first private broadcasting corporation in the country. As of 2011, MBC has over 4,000 employees. It has provided terrestrial digital TV service in the ATSC format since 2001, and T-DMB (Digital Multimedia Broadcasting) service since 2005.

History



MBC began as Busan Munhwa Bangsong (Busan Munhwa Broadcasting Corporation, or Busan MBC), and was established in 1959 in Busan, South Korea. The radio station was then owned by Jeong Hwan-ok (a radio-store operator) and Kim Sang-yong (a former department-store owner). Jeong had suggested that Kim open a private broadcasting station; Kim was looking for a new business opportunity, and at that time Japanese stations dominated the south coastal Korean radio dial. On April 15, 1959 the postal ministry authorized Busan MBC to operate, making it Korea's first...
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