SK텔레콤의 CJ헬로비전 인수합병 사례에 대한 정책집행평가 연구

The purpose of this study is to assess whether the SKT-CJ Hello Vision M&A policy process has been properly implemented. It covered two subjects of the evaluation; one is the review process of the competition restriction by Fair Trade Commission(FTC) and the other is the procedure to be followed by the Ministry of Science and ICT(MSIT, the former MSIP), which is consultation with the FTC and prior agreement with the Korea Communications Commission(KCC). As a result of the analysis of relevant literature and expert in-depth interviews, it was found that FTC’s competition restriction review unreasonably dominated the policy process and the external influence with the background of President’s power was involved in the policy process. The MSIT, which has the regal authority related to mergers and acquisitions of media companies, accepted the FTC’s decisions with binding consultations without disclosing its own examination criteria or results, and did not implement pre-consent with the KCC. Most experts evaluated the policy implementation as inadequate in legal process. The unreasonable policy process may be primarily due to the ambiguity of the relevant legal provisions. But more importantly, external factors outside government departments that do not have legal authority have dominated policy enforcement. Several policy improvements have been proposed to avoid such misleading precedent.