The Foundation for Broadcast Culture is the only institution dedicated to the promotion of broadcasting in South Korea. Partly to address concerns following the country's 1987 democratic reforms, the National Assembly

National Assembly of South Korea

The National Assembly of the Republic of Korea is a 299-member unicameral legislature. The latest general elections were held on April 9, 2008. Single-member constituencies comprise 245 of the National Assembly's seats, while the remaining 54 are allocated by proportional representation...

 established the Foundation for Broadcast Culture to insulate MBC from political influence and KBS. The foundation was established as a not-for-profit foundation in accordance with "The Foundation for Broadcast Culture" Act (Ordinance No. 6137) first formulated on Dec. 26, 1988.

It is a major shareholder of MBC (Munhwa Broadcasting Corporation

Munhwa Broadcasting Corporation

Munhwa Broadcasting Corporation Munhwa Broadcasting Corporation Munhwa Broadcasting Corporation (MBC (Hangul : 문화방송주식회사, Munhwa Bangsong Jushikoesa) is one of four major national South Korean television and radio networks. Munhwa is the Korean word for "culture". Its flagship terrestrial television...

) to which 70% of the stocks of MBC was donated as "the initial fund for the promotion of broadcasting culture" from the government. Except for the corporate structure, the concept of the foundation is similar to Channel 4

Channel 4

Channel 4 is a British public-service television broadcaster which began working on 2 November 1982. Although largely commercially self-funded, it is ultimately publicly owned; originally a subsidiary of the Independent Broadcasting Authority , the station is now owned and operated by the Channel...

in the United Kingdom.