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South Korea: Telecom minister urges antitrust watchdog to conclude SKT-CJH merger review

By  |  May 26, 2016
South Korea: Telecom minister urges antitrust watchdog to conclude SKT-CJH merger review

Science, ICT and Future Planning Minister Choi Yang-hee said Thursday he has complained to the chief of the antitrust watchdog, Jeong Jae-chan, about the delayed review process of SK Telecom’s proposal to merge with CJ HelloVision.

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    Choi, stressing that the review’s conclusion has been delayed longer than he expected, said he had voiced his concerns and the ministry is prepared to expedite the process once the Fair Trade Commission (FTC) concludes its review and transfers the case to the ministry.

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    “When I met the FTC chairman at an official occasion, I personally told him that the process of the merger review has been slow,” Choi said during a meeting with reporters in Gwacheon, Gyeonggi Province, Thursday. “I have raised questions about how far the review has progressed and when the case will be transferred to the ministry. And the antitrust watchdog chief’s answer was that the reviewing process is quite complicated and it is taking much time.

    “Though we cannot forejudge how the watchdog will conclude the case, the ministry has been preparing to speed up the process. I hope that we can draw a conclusion early and announce it.”

    Full Content: Korea Times

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