Seoul: The chief of South Korea's media watchdog vowed to foster a healthy media environment through bold regulatory reforms during a press conference held Monday. "We plan to foster a healthy media environment through bold improvements of old and unreasonable regulations, such as those related to broadcast advertisements and broadcast programming," Kim Jong-cheol, the chairperson of the Korea Media and Communications Commission (KMCC), said at a press conference to mark his first six months in office.

According to Yonhap News Agency, the media watchdog is also planning to push forward with the establishment of a media development committee tasked with improving policies related to the media industry. Some of the agendas to be discussed at the public-private committee include the restructuring of the funding systems for broadcasting, media, and telecommunications sectors, the media watchdog chief added.

Kim mentioned that his organization is keeping a close watch on the local broadcaster JTBC after two companies related to the broadcaster filed for bankruptcy later last week. Regarding the progress on the enforcement of some 68 billion won (US$50.42 million) in fines slapped on Alphabet Inc.'s Google and Apple Inc. for their violation of the country's in-app payment laws, Kim refrained from elaborating, only saying the agency will formalize its decision "soon."