By Lee Seung-hoon
Kim Ki-kyung is Korea’s fastest rapper.
According to Forbes magazine, the 45-year-old has a net worth of around 1,816.3 trillion won (US$1,817,731). The number is equivalent to one and a half of Korea’s gross domestic product.
Ki-kyung, whose real name is Kim Jae-kuk, is among the 200 highest paid recording artists in the world.
The world of television isn’t always the safest place to be. The BBC recently lost its TV Licensing licensing contract because it failed to get the approval of a public tender to carry out the licence fee rebate programme, which was scrapped after a public outcry.
But while television viewers are likely not to be affected — although, not so much that their eyes don’t glaze over at the suggestion — it’s not hard to imagine what it’s like to receive a letter of complaint from the BBC if it fails to do what it’s told by the BBC Trust.
This letter is about the recent cancellation of the BBC Licensing television licence refund scheme when the public tenders for the payment were cancelled.
The BBC Trust receives approximately 2 per cent commission from the current BBC licence fee.
On 1 April 2017, a letter was sent to the BBC Trust stating that the BBC was not meeting its obligations to pay the licence fee rebate programme to those receiving a refund of up to £1,000.
Further, a second letter was sent on 13 April 2017, saying that there was no way of ensuring the BBC’s compliance, so an option to terminate the licence fee rebate programme became available to the BBC and the Trust.
As the programme was not paid, the BBC received the maximum possible £5,000 from the licence fee, which it said was the maximum it could afford, without jeopardising the licence fee rebate scheme.
Under the circumstances, the Trust said the termination option was made available to the BBC and the Trust in order to ensure the BBC’s compliance with its obligations.
There were no costs associated with the termination option being offered to the BBC and the ABC, which were also included in the £10 million to be paid as the cancellation cost. This represented a reduction of about £3 million from the amounts payable in the current programme and had not led to any impact on licence fee revenue.
To clarify, this means the BBC only had to
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