Yonhap, KODIMA agree on digital-media partnership

SEOUL, Sept. 9 (Yonhap) -- Yonhap News Agency and Korea Digital Media Industry Association (KODIMA) tentatively agreed Wednesday to establish a partnership in the digital media arena, officials said.

The agreement calls for merging the capabilities of the two sides to form an
alliance that will help push forward the South Korean news agency's plan to
launch a TV news channel in the near future.
"Yonhap News Agency is now entrusted with a new mission of launching a news
channel, as the media environment surrounding us is ever changing," said Park
Jung-chan, president-publisher and CEO of Yonhap. "We will create a business
model that contributes to the cost reduction of our customers -- newspapers and
broadcasters."
Spurred by the agreement, Yonhap says it will make full-fledged efforts to launch
a TV channel in preparation for the burgeoning digital era. Yonhap, South Korea's
largest network of news writers and reporters in and out of the country, has
highlighted its ability to produce real-time news.
The move aims to enhance the agency's real-time news service by creating a
multimedia platform that includes broadcast and video content in order to
aggressively respond to the changing media environment, where a conversion is
expected between broadcast and telecommunications networks and local newspapers.
KODIMA will work together with Yonhap to integrate its network infrastructure in
the field of digital media broadcasting with Yonhap's content.
"A Big Bang is about to come in the industry, bringing with it the arrival of the
era of multimedia and multi-channels," said Kim In-kyu, president of KODIMA. "A
new genre will emerge in the media industry, following the launch of the new TV
news channel."
Yonhap and KODIMA will also begin work on co-developing digital products for
Internet-protocol TV (IPTV), a fast emerging alternative to traditional ways of
reaching audiences, and other hi-tech broadcasting services.
ygkim@yna.co.kr
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