Regulator approves travel platform Yanolja's takeover of Interpark

▲ This file photo taken May 15, 2022, shows a pop-up store set up by Yanolja Co. at a Seoul department store. (Yonhap)

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Regulator approves travel platform Yanolja's takeover of Interpark

SEOUL, March 28 (Yonhap) -- South Korea's antitrust regulator said Tuesday it has approved travel platform operator Yanolja Co.'s purchase of e-commerce firm Interpark Corp.'s travel business

In 2021, Yanolja acquired a 70 percent stake in Interpark's e-commerce business, including travel services, performing arts and online shopping, for 301.1 billion won (US$231.3 million), and reported the deal to the Fair Trade Commission (FTC) last year.

After a monthslong review, the regulator gave the green light to the combination, saying that there "exist no concerns that the corporate merger would practically hurt competition" in the domestic online travel platform market.

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