Multiple Approaches Towards Merger Control: How to Achieve Regulatory Convergence? A Global Perspective on the Korean Air-Asiana Airlines Merger

This paper contains a comparative analysis of five jurisdictions that implemented merger remedies in the Korean Air-Asiana Airlines merger case. It also examines how the European Union (EU) and United States of America (US) air transport competition and antitrust regulations, including rules on merger control, have been transplanted and applied by other jurisdictions. Currently, the international air transport industry lacks a foundation for regulatory convergence in these areas, which are, or should be, subject to the relevant theories and methods in order to achieve a more harmonized approach. In that context, the present paper specifically identifies relevant market definitions, market power assessments, and merger remedies in each of the five jurisdictions. It is concluded that the traditional divergent approaches are in urgent need of a common stance on the aforementioned, and other definitions and concepts.