TV Homeshopping (Image courtesy of Yonhap)
SEOUL, Jun. 12 (Korea Bizwire) – The South Korean Ministry of Science and ICT has convened a special task force to bolster the flagging competitiveness of the nation’s home shopping industry, it announced on June 11. The move comes as the industry has stagnated amid the rapid growth of domestic and international e-commerce platforms and shifts in media consumption habits.
The ministry cited concerns over the broader paid television ecosystem as the impetus for forming the dedicated team. It will be helmed by Choi Jun-ho, the deputy minister for broadcasting promotion policy, and comprised of experts in broadcasting, law, economics, management, and accounting.
Among the key issues the task force will tackle are revisiting the conditions for home shopping channel license renewals and exploring ways to foster mutually beneficial cooperation between paid TV providers and home shopping networks.
After soliciting input from stakeholders, the Ministry of Science and ICT plans to unveil its final strategy to reinvigorate the home shopping industry’s competitiveness in the latter half of this year. The plan will be formulated based on the task force’s deliberations and recommendations.
Ashley Song (ashley@koreabizwire.com)
