South Korea’s FTC approves KT/KTF merger

Reuters is reporting that the South Korean anti-trust agency, the Fair Trade Commission (FTC), has approved proposals by fixed line and broadband operator KT Corp (KT) to merge with its mobile arm KTF Corp (KTF). It is understood that the approval for the merger had been granted without conditions, although the agency has said it will continue to monitor the newly merged company for any signs of anti-competitive activity. KT has claimed that the merger will allow it improve and expand its product offerings, as well as offering the opportunity to cut costs. Rivals including SK Telecom meanwhile have expressed concern that the unification of the two companies will affect competition in the country’s wireless sector.