JTBC, an affiliate of JoongAng Group, has declared a debt default worth ₩20 billion, raising concerns about the network’s upcoming drama schedule for the second half of the year.

Earlier, 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 turned to whether SLL (SLL JoongAng), the group’s key content production company, could be affected by the liquidity crisis facing the group’s companies.

Contrary to market concerns, projects currently being produced by SLL for release in the second half of the year are reportedly continuing without disruption. According to a report by TenAsia on June 18, an SLL representative stated, “We will have to monitor how the group’s rehabilitation process develops, but as of now, there have been no discussions regarding holding or suspending any productions.”

The lead actors attached to several highly anticipated projects are also continuing their schedules as planned. Final Table, starring Ahn Hyo Seop, and Gold Digger, starring Kim Hee Ae and Noh Sang Hyun, are reportedly filming without any changes to their 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 for The Sacred Jewel.”

However, scheduling 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 insiders also note that some projects currently in production may face tight timelines if they hope to premiere within the originally targeted period.

One of the primary reasons cited for JTBC’s financial difficulties is the growing burden of media-related investments. According to the annual Broadcasting Business Operators Financial Status Report published by the Korea Media and Communications Commission, JTBC has steadily increased its production spending over the past decade. In 2024 alone, the network spent approximately ₩261.9 billion on programming, roughly 1.5 times more than other major comprehensive programming channels.

At the same time, JTBC’s broadcasting revenue for 2024 totaled ₩281.7 billion, leaving only a narrow margin after accounting for administrative and operational expenses. Additional investments in major sports broadcasting rights, including the Olympics and the FIFA World Cup, are 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 from JoongAng Holdings, JoongAng P&I, Megabox JoongAng, and ContentreeJoongAng are also expected to appear before the court on the same day.

Sources: Daum