Board of Audit and Inspection "MBC Losing Tens of Billion in Negligence Management...Visiting team, left behind knowingly"

An audit result showed that the Korea Broadcasting Culture Promotion Association, MBC's largest shareholder and management and supervisory organization, and "Visitors" neglected MBC's lax management.

The Board of Audit and Inspection released an audit report today (11th) that judged that the visit team's actions were not appropriate for six allegations of "MBC neglect management and supervision."According to the

report, MBC lost tens of billions of won by violating pre-consultation guidelines and pushing ahead with domestic and international investment, but the visitors did not take measures to correct it even after learning about it belatedly.

The Board of Audit and Inspection judged that the loss of all 10.5 billion won in U.S. resort development investment, the loss of 10 billion won in domestic businesses such as Yeosu theme parks, and the controversy over excessive contribution to the in-house worker welfare fund were also neglected, resulting in a lack of reprimand and measures to prevent a recurrence.

However, the visiting team reportedly claimed that it was only an autonomous management matter or that there was proper management and supervision.

The Board of Audit and Inspection called for attention from the visitors to thoroughly manage and supervise MBC management in accordance with the Broadcasting Culture Promotion Association Act and the Commercial Act.

It also took caution against violating the Public Records Act, such as refusing to comply with the request for the submission of audit data and allowing MBC to retrieve the data from the board meeting.