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The Korea Communications Commission on Wednesday voted in favor of a new regulation that will allow conglomerates with assets of less than W10 trillion to run terrestrial or cable TV channels (US$1=W1,480). That opens the door into television for 34 conglomerates including LS, Dongbu, Daelim and Hyundai. Under the current law, the cap is assets of W3 trillion.
The KCC also eased regulations on cable TV. Currently, any one cable TV operator can provide services only to 15 out of 77 regions nationwide. That will rise to 25, heralding a flurry of mergers and buyouts of firms.
The rules, which come under the enforcement ordinance of the relevant law and need no parliamentary approval, will come into force at the end of next month after vetting by the Regulatory Reform Committee and the Ministry of Government Legislation.
(englishnews@chosun.com )
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