South Korea: FTC concludes review on SK-CJ HelloVision merger

South Korea’s antitrust regulator has concluded its review of the controversial merger between SK Telecom and CJ HelloVision, ending seven months of assessments on the possibility of the deal impeding fair market competition, according to industry sources Monday.

The Fair Trade Commission has reportedly sent its report to SK Telecom, they said without elaborating. The state-run regulatory body will also send the review to the Korea Communications Commission and the Ministry of Science, ICT and Future Planning at a later date. Meanwhile, the regulator will give the telecom giant two weeks to contemplate the report.

The FTC spent more than half a year deciding on how far it would make correction orders to SK Telecom regarding the deal’s possible impact on damaging market competitiveness. It has no authority for an approval, but the KCC and the Future Ministry have.

Based on the report by FTC, the KCC and the ministry are expected to make a final decision at the end of the month.

Unlike the FTC’s limited role that only looked into the possibility of the deal hurting market competition, the KCC and the ministry are likely to examine whether the takeover violates the public interest or not.

Full Content: Korea Herald

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