[News Today] TBS REQUESTS EMERGENCY FUNDING

[LEAD]
TBS, now in its 34th year, faces imminent shutdown and has urgently requested financial aid from the Seoul Metropolitan Council. With all staff layoffs under consideration, the labor union has promised a strong response.

[REPORT]
The Seoul metropolitan government stopped funding TBS in June for what it claimed was "biased broadcasting" against the conservative government.

Two months later, the broadcaster requested the Seoul Metropolitan Council to provide at least 2 billion won, or around 1.5 million dollars, in funding.

This is because once TBS pays out wages to its 250-plus workers later this month, its remaining budget of one billion won, or approximately 720,000 dollars, will be depleted.

Lee Seong-gu / Acting CEO, TBS
We need over KRW 5 bn (USD 3.6 mn) to last until the year end, but we'll cut costs to make it with the funding.

TBS has pledged to produce programs that reflect public interests and also to attract private investment to increase its revenues.

The broadcaster says nothing is decided yet on laying off all of its employees, but added it could be considered in the worst-case scenario.

Lee Seong-gu / Acting CEO, TBS
It is one of the options we need to weigh along with rehabilitation, bankruptcy and liquidation.

The broadcaster's labor union immediately pushed back.

It blasted the broadcaster's acting chief and vowed to launch a strike immediately if the company decides to fire workers.

Lee Jung-hwan / TBS labor union head
He is causing division at TBS by saying restructuring and lay-offs are possible because there is no legal liability.

The Seoul Metropolitan Council says TBS' request for funding has not been discussed yet, but promised help in
finding private investors for the broadcaster.