The board of directors at the Seoul Foreign Correspondents' Club(SFCC) expressed deep concern over a push to pass through the National Assembly controversial revisions to the press arbitration law.

In a statement on Friday, the SFCC said while it agreed there is a need for a system to assist those facing damage from fake news, it is concerned about the bill, which could undermine the basic rights of democracy.

The group said it supports the position of the Journalists Association of Korea and other similar organizations that the revisions should be drawn up through social consensus and that they should also guarantee the freedom of the press.

Stressing that many of its members expected advanced understanding of the press following the peaceful government transition after the candlelight protests, the SFCC warned that the country faces a possible regression of its global reputation and free press environment.

The revisions include awarding compensation of up to five times the amount of damages incurred when media outlets either intentionally or accidentally issue false or manipulated reporting.