Regulator grants conditional approval for KT-Hyundai HCN deal
CEO Ku Hyeon-mo speaks about the company's strategy regarding media content during a press conference at KT's headquarters in central Seoul, March 23. Courtesy of KTBy Kim Bo-eunKorea's antitrust watchdog on Tuesday granted conditional approval for KT Skylife's acquisition of local cable TV operator Hyundai HCN. The two entities signed a deal last October, under which the KT affiliate acquires 100 percent of the Hyundai unit's shares. The Korea Fair Trade Commission (KFTC) said that its conditional approval is based on the condition that the merged entity ensures the stability of fair market competition.The body said that it outlined seven conditions, given the fact that the acquisition raised the possibility of KT having a monopoly in the paid digital broadcasting services market, as the integration removes Hyundai HCN's former prime competitor ― and therefore competition ― that prevented a raise in cable TV fees. Prior to the acquisition, KT had been Hyundai HCN's greatest competitor in the market.The conditions include a ban on raising cable TV fees beyond the inflation rate, chan
