The merger review in the case was conducted in pursuant to the Guidelines for M&A Review (KFTC Notification No. 1999-2, hereinafter referred to as the “Guidelines”) as mandated by Article 7 Paragraph 5 of the MRFTA. The Guidelines were enacted to determine whether a merger substantially lessens competition in a specific field of trade, whether a merger generates efficiencies, and whether a merger involves a non-viable company through a merger analysis.