Seoul: A court on Friday ruled in favor of employees of all-news TV channel YTN over an approval by the broadcasting regulator that changed the broadcaster's biggest shareholder.

According to Yonhap News Agency, the decision by the Seoul Administrative Court found that the Korea Communications Commission's approval of Eugene ENT Co. as the largest shareholder of YTN was illegitimate. This decision was made due to the commission's failure to meet the required quorum of five members; instead, the decision was made by only two members.

The court highlighted the necessity for a decision to be valid only if at least three of the five members of the commission's decision-making body vote in favor. This ruling challenges the February decision last year by the then Korea Communications Commission, which has since been reorganized as the Korea Media and Communications Commission.

Under the previous Yoon Suk Yeol administration's restructuring plan, Eugene ENT Co. acquired a 30.95 percent stake in YTN from two state-run companies, KEPCO KDN and the Korea Racing Authority, positioning itself as the broadcaster's largest shareholder. However, this acquisition was contested by YTN's employee stock ownership association, who subsequently filed a lawsuit leading to the court's recent ruling.