JTBC, an affiliate of JoongAng Group, declared a debt default worth ₩20 billion, raising concerns about the network’s upcoming drama schedule for the second half of the year.
Previously, on June 16, the Seoul Bankruptcy Court issued preservation orders and a comprehensive prohibition order against five affiliated companies, including JTBC, JoongAng Holdings and ContentreeJoongAng. As a result, industry attention has focused on the possibility that SLL (SLL JoongAng), the group’s main content production company, could be affected by the liquidity crisis affecting group companies.
Contrary to market concerns, projects currently produced by SLL for release in the second half of the year would continue without interruption. According to a report from TenAsia on June 18, an SLL representative said, “We will need to monitor how the group’s rehabilitation process develops, but as of now there have been no discussions regarding maintaining or suspending any productions.”
Key players attached to several highly anticipated projects are also continuing their schedules as scheduled. Final Table, starring Ahn Hyo Seop, and Gold Digger, starring Kim Hee Ae and Noh Sang Hyun, are reportedly filming without any changes to production timelines.
Meanwhile, The Sacred Jewel, starring Ahn Bo Hyun and Lee Sung Min, has already completed all pre-production filming and is currently in post-production. On June 19, Ahn Bo Hyun’s agency, AM Entertainment, told TV Report, “There have been no separate discussions with JTBC regarding this matter, and Ahn Bo Hyun has already completed filming The Sacred Jewel.”
However, planning remains a realistic challenge. Both Gold Digger and The Sacred Jewel have been announced as part of JTBC’s lineup for the second half of 2026, but official broadcast dates have not yet been finalized. Industry experts also note that some projects currently in production may face tight timelines if they hope to premiere within the originally scheduled timeframe.
One of the main reasons cited for JTBC’s financial difficulties is the growing burden of media-related investments. According to the annual report on the financial situation of broadcast industry operators released by the Korea Media and Communications Commission, JTBC has steadily increased its production expenses over the past decade. In 2024 alone, the network spent approximately ₩261.9 billion on programming, approximately 1.5 times more than other major full-service programming channels.
At the same time, JTBC’s broadcast revenue for 2024 stood at ₩281.7 billion, leaving only a narrow margin after accounting for administrative and operational expenses. Further investment in major sports broadcast rights, including the Olympics and FIFA World Cup, is also believed to have contributed to the network’s growing debt burden.
A hearing regarding JTBC’s corporate rehabilitation process is scheduled for June 23 at 2 p.m. Representatives of JoongAng Holdings, JoongAng P&I, Megabox JoongAng and ContentreeJoongAng are also expected to appear in court on the same day.
Sources: Daum
