통신·방송융합에 따른 기업결합심사에 관한 연구

Abstract

The convergence of industries generally causes changes in market structures, enhances level of competition in the relevant markets, puts pressure on regulation systems particularly, line-of-business restrictions, and finally, induces firms to produce new products and services. Recent convergence of telecommunication and broadcasting includes three aspects; (1) convergence of services, (2) convergence of networks, and (3) convergence of firms. The telecommunication and broadcasting industry in the United States and developed European countries has seen a series of mega mergers and acquisitions with the trend of convergence. In Korea, this has not been the case so far mostly due to high legal barriers to entry into telecommunication and broadcasting industry and rigid ownership restrictions for broadcasting companies. In the future, however, lots of mergers and acquisitions for enhancing competitiveness in telecommunication and broadcasting industry are expected in Korea as an efficient legal regime corresponding to convergence is being developed. The convergence of telecommunication and broadcasting creates great theoretical and practical difficulties for the established antitrust merger review regime. They involve relevant market definitions, merger review standards each regulatory agency uses, anti-competitive concerns that play a role in merger review process, and relationship between the competition authority and the sector-specific regulatory authority. For promoting efficiency-enhancing mergers and acquisitions with effective competition in the relevant markets protected, a new merger review regime which may settle these issues should be arranged as soon as possible.