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The objective of this study is to examine the structural changes of the Korean broadcasting communication service industry by analyzing foreign and domestic cases of business diversification and also connecting the business diversification and de-diversification behaviors of the CJ Group and SK Telecom with the market condition. This study found that business diversification is not more superior to de-diversification and vice-versa. It means that both strategies have become the business trend that could work in a competitive or complementary manner. Unusually, in the pay-TV market of Korea, both strategies are expected to occur at the same time to derive mutual benefits.