KoreaTech Today - Korea's Leading Tech and Startup Media Platform
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
No Result
View All Result
KoreaTech Today - Korea's Leading Tech and Startup Media Platform
No Result
View All Result
Home ICT Ministry

KCC Gives Conditional Approval for SK Broadband, T-broad merger

 1,309 total views,  1 views today

James Jung by James Jung
PUBLISHED: January 20, 2020 UPDATED: January 21, 2020
in ICT Ministry, Korea Communications Commission, SK Broadband, SK Telecom, t-broad
0
Korea_Communications_Commission_logo
The Korea Communications Commission issued a conditional approval to SK Broadband's merger with T-broad.

The Korea Communications Commission issued a conditional approval to SK Broadband's merger with T-broad.

The Korea Communications Commission (KCC), on Monday, announced after its meeting that it issued a conditional approval to SK Broadband’s merger with cable TV operator, T-broad.

The wholly-owned subsidiary of South Korea’s top mobile carrier, SK Telecom Co. merger with the country’s second-largest cable TV operator, received conditional approval from the media regulation agency under 14 conditions and three suggestions, requiring the company to serve the public interest and protect user’s rights.

The commission will hand over the results of its review to the ICT Ministry. Industry officials expect the ministry to issue a final approval within one to two weeks from now.

On December 30 of last year, the ICT Ministry also gave conditional approval for SK Broadband and T-broad’s merger pushing to upgrade the country’s telecom and broadcasting sector.

According to Hong Jin-bae, director-general of the ministry’s network and telecommunication policy office, the ICT Ministry gave the approval under the condition that the merged entity will not discriminate against existing and new customers, and will not engage in an unfair or unlawful practices.

SK Broadband and T-broad announced in May of last year their intention for a tie-up seeking regulatory permission from the agency. The approval would pave the way for SK Telecom to create connections to the local media business.

The parent company of SK Broadband, SK Telecom, aims to complete the merger by April 1 this year. The company will have to report to the Financial Supervisory Service after receiving the final approval from the ICT Ministry. The company will also hold board meetings before the completion of financial transactions.

The merger is valued at 4.7 trillion won ($4 billion). After the merger, SK Broadband expects the merged company to provide service to a combined 8 million subscribers and acquire a stake of around 24 percent of the pay-tv market in South Korea.

What’s your thoughts?
+1
0
Upvote
+1
0
Clap
+1
0
Clap
+1
0
On fire
+1
0
Meh
+1
0
Clap
+1
0
Tags: conditional approvalKCCMergerSK Broadbandt-broad

Related Posts

SK Group forms ‘SK ICT Alliance’ for AI chip development
The Korea Communications Commission issued a conditional approval to SK Broadband's merger with T-broad.
5G

SK Group forms ‘SK ICT Alliance’ for AI chip development

January 11, 2022
5G users in South Korea surge to 20 million
The Korea Communications Commission issued a conditional approval to SK Broadband's merger with T-broad.
5G

5G users in South Korea surge to 20 million

January 4, 2022
SK Telecom partners with Erisson for 5G standalone network
The Korea Communications Commission issued a conditional approval to SK Broadband's merger with T-broad.
SK Telecom

SK Telecom partners with Erisson for 5G standalone network

November 18, 2021
Netflix awaits the next court judgement after SK levies fees for broadband traffic
The Korea Communications Commission issued a conditional approval to SK Broadband's merger with T-broad.
SK Broadband

Netflix awaits the next court judgement after SK levies fees for broadband traffic

October 20, 2021
SK Telecom unveiled Ifland, a new 5G metaverse social networking platform, providing convenient and seamless VR interaction. / photo courtesy of SK Telecom
The Korea Communications Commission issued a conditional approval to SK Broadband's merger with T-broad.
SK Telecom

SKT Popularizes Social VR with Ifland Metaverse Platform

July 16, 2021
SK Telecom joins ViveStudios, a virtual reality content production company, as part of its goal to lead the fast-growing domestic metaverse ecosystem.
The Korea Communications Commission issued a conditional approval to SK Broadband's merger with T-broad.
Entertainment

SK Telecom Strengthens Its Metaverse Services with ViveStudios

June 17, 2021
No Result
View All Result

Follow Us

FREE NEWSLETTER




PRODUCTS

Most Popular

  • 5 Best Korean to English Translation Apps

    0 shares
    Share 0 Tweet 0
  • Top South Korean Tech Products to Look Out for in 2021

    0 shares
    Share 0 Tweet 0
  • SKT Popularizes Social VR with Ifland Metaverse Platform

    0 shares
    Share 0 Tweet 0
  • Top Nine Mobile MMORPG in South Korea for 2020

    0 shares
    Share 0 Tweet 0
  • Top 8 South Korean Mobile MMORPG to Watch Out For in 2021

    0 shares
    Share 0 Tweet 0
  • Best Korean Dramas To Watch This 2021

    0 shares
    Share 0 Tweet 0
  • 5 All-Time Best Rom-Com K-Dramas to Watch

    0 shares
    Share 0 Tweet 0
  • Coway Changes Name After Netmarble’s Aquisition

    0 shares
    Share 0 Tweet 0
  • LG, Samsung to Reveal Advanced AI-Based Fridges at CES 2020

    0 shares
    Share 0 Tweet 0
  • KT Continues to Accelerate Its ‘Digico’ Transformation

    0 shares
    Share 0 Tweet 0
  • About Us
  • Account Page
  • application form
  • Cookie policy
  • Default Redirect Page
  • homepage
  • Login
  • login form
  • LogOut
  • Newsletter
  • Privacy Policy
  • Register
  • Reset Password
  • Sample Page
  • Subscription Plan
  • Terms of Use
  • test
  • test
  • testpage
  • TOS Page
  • Visitor Inside User Page

Copyright © 2022 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy|Contact : [email protected] |

No Result
View All Result
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government

Copyright © 2022 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy|Contact : [email protected] |