Taekwang Group's media subsidiary TCast will halt in-house content production.
According to the industry on the 18th, Um Jae-yong, CEO of TCast, said through an internal notice the day before, "The company made the difficult decision to cease in-house production after much deliberation," and that "as a result, we plan to implement unavoidable follow-up measures such as the elimination of production roles, disbanding the production team, and redeploying production staff."
Um said, "The revenue and profitability in the production sector of TCast have deteriorated, and if this trend continues, the very existence of the company is threatened."
He added, "As the economic situation worsens, the entire group has entered an emergency management system, and each subsidiary is in a situation demanding rigorous self-rescue efforts to overcome the crisis," noting that "this decision is a desperate measure to overcome the impending crisis facing the company."
TCast operates E Channel, Screen, Drama Cube, and Channel View, and is producing in-house programs such as "Brave Brothers" and "Saturday is Good for Rice," which are currently airing on E Channel.
The team includes PD Lee Young-sik from "Delicious Guys" and PD Jo Seo-yoon, who directed the variety shows "Marriage Not Dating" and "Radio Star," both originating from MBC.