Kim Baek, YTN President, Resigns Abruptly... "Personal Reasons" (Comprehensive 2nd Report)

First CEO after Eugene Group became largest shareholder... Fails to complete half of term amid labor-management conflict

"New president to be appointed from internal and external media experts"... Executive Director Cho Se-hyun to act as interim head

Kim Baek, YTN President [Provided by YTN. File photo. Reproduction and database prohibited]

(Seoul=Yonhap News) Reporter Lee Se-won = Kim Baek (69), President of YTN, resigned abruptly on the 28th.

According to YTN, President Kim resigned from his position as CEO and President for personal reasons on this day.

As a result, President Kim, who was first nominated as the chief executive officer (CEO) at the regular shareholders' meeting and board of directors after Eugene Group became the largest shareholder of YTN through its affiliate Eugene ENT, stepped down after approximately 1 year and 4 months.

President Kim, who took office at the end of March last year, had a three-year term until March 29, 2027, but did not even serve half of it.

YTN stated, "According to Article 5 of the Board of Directors Operating Regulations, the next senior internal director will act as the CEO and Chairman of the Board of Directors," adding, "The company will proceed with the follow-up steps in accordance with legal procedures, including relevant laws and internal regulations."

Executive Director Cho Se-hyun (51), head of the Management Support Division and former Chief Financial Officer (CFO) of TVING, will act as interim CEO, and the process to appoint a new CEO is expected to proceed soon.

In this regard, the largest shareholder, Eugene ENT, stated, "We will support the prudent and legal appointment of the next CEO through a rational and lawful process, targeting both internal and external media experts, to enhance YTN's future competitiveness and meet the expectations of the times."

President Kim graduated with a degree in Philosophy and Political Science and International Relations from Sogang University, worked as a reporter for KBS and SBS, and joined YTN in 1995. At YTN, he held key positions such as Head of the Newsroom, Executive Director of News, and Executive Director in charge of overall operations.

Since taking office, he has been in conflict with the YTN branch of the National Union of Media Workers (hereinafter referred to as the 'YTN Branch').

Ahead of the 20th presidential election in 2022, President Kim issued a public apology shortly after taking office, stating that YTN's reporting was biased and unfair, claiming that dozens of reports based solely on one-sided assertions about an "unspeakable" matter related to Kim Keon-hee, the wife of presidential candidate Yoon Suk-yeol, had been aired.

At the time, the YTN Branch criticized this, saying, "Although President Kim called it a public apology, it was in reality an act of groveling to Yongsan (the Presidential Office)," and "Today, when the President of YTN begged for forgiveness from power, it is the most shameful day in YTN's 30-year history."

The YTN Branch also went on strike in May of this year, demanding the resignation of President Kim and that Eugene Group withdraw from YTN. Yonhap News