On the news that Lee Sung-ju, iMBC(052220) executive director, was finally appointed as the new MBC president, iMBC shares jumped 20% on the 15th.
As of 9:20 a.m. that day, iMBC was trading on the KOSDAQ market at 2,095 won, up 353 won (20.26%) from the previous session.
Earlier, the Foundation for Broadcast Culture, MBC's largest shareholder and oversight body, held a special board meeting the previous day and, from two candidates—nominee Lee and Jeon Dong-gun, former Ulsan MBC president—finally selected nominee Lee as the new president-designate.
The new president joined MBC as a reporter in 1995 and served as chairperson of the National Union of Mediaworkers MBC headquarters, head of media planning, and iMBC executive director. The new president's term is three years.
This presidential selection is the first case to apply the revised Broadcasting Act. A committee of 150 citizens, the presidential candidate national recommendation committee, narrows the field through a policy presentation and deliberative discussion, and the Foundation for Broadcast Culture conducts the final interviews and vote.