Bae, Kim & Lee LLC has advised SBS, one of Korea's leading broadcast networks, in setting up a joint venture with the NBC Universal affiliate CNBC for the launch and operation of the "SBS CNBC" TV news channel in Korea. Following startup of the channel by SBS Business Network at the end of 2009, CNBC's investment in the company was completed in March 2010.
A BKL team led by Jung Min Jo and Minwoon Yang assisted SBS Media Holdings throughout the negotiation, preparation and closing of the transaction, in the process handling a series of regulatory tasks such as registration of the new channel. BKL worked opposite a CNBC team including advisors from Korea, Singapore and the United States.
"SBS CNBC" is a 24-hour HDTV cable/satellite news channel in the Korean language, devoted to financial and business news. The channel is expected to become a leader in its genre in Korea, offering real-time market information and business news as well as personal finance coverage.