The nation’s three terrestrial broadcasters have agreed to jointly air high-profile sports events.

KBS, MBC and SBS said in a joint statement issued on Monday that they would share the broadcasting rights to popular sports events based on the principle of equality. They also agreed to jointly address the issue of securing exclusive relay rights for athletics events.

The three broadcasters will concurrently air sports events and share the burden of related costs. The upcoming events under immediate consideration include the London 2012 Olympics, the 2014 World Cup in Brazil and the 16th Asian Games that will open in China’s Guangzhou in November.

The three firms also agreed to seek ways to establish a council for the development of sports relay broadcasting.