계열사 간의 거래에 있어서 시장상황을 반영한 합리적 거래조건의 결정

권남훈(Namhoon Kwon),김종민(Chongmin Kim),전성훈(Seonghoon Jeon),정진화(Jinhwa Chung) 한국경제연구원 2012 규제연구 Vol.21 No.1

계열사 사이의 거래는 일종의 “포획시장(captive market)” 거래로서 거래 자체는 기업집단 차원에서 어느 정도 명령적으로 결정되는 측면이 있지만, 거래조건의 결정은 시장상황을 반영해야 한다는 양면성을 지니고 있다. 공정거래법과 세법의 집행기관은 계열사 사이의 거래조건의 자의적인 결정이 불공정거래의 수단 혹은 조세회피 목적으로 악용될 가능성이 있음에 항시 주목하고 있다. 본 논문에서는 공정거래법이나 조세법상 요구되는 독립거래의 원칙(arm's length principle)과 이에 부합되는 경제학적 모형을 살펴보고 이를 실제 거래조건 결정과정에 적용할 수 있는 현실적인 방안을 검토한다. Intra-company transactions have two rather conflicting characteristics; Trade decisions are made by fiat in a ‘captive market’ among a group of related parties, while the terms of trade must reflect actual market situations. On the other hand, antitrust regulators and tax authorities are closely monitoring these transactions to prevent possible ‘unfair’ trading and/or tax evasions. In this paper, we explore an economic model to determine intra-company trade terms based on the arm’s length principle. Then, we evaluate several methods that can be used to apply such economic model to actual intra-company transactions.

음료 시장에서의 관련 상품시장 획정

권남훈 ( Namhoon Kwon ) 한국산업조직학회 2021 산업조직연구 Vol.29 No.4

This paper estimates a multi-level demand system based on Hausman, Leonard and Zona (1994) and apply the results to delineate the antitrust market for soft drinks regarding the KFTC’s cartel case in 2009. The results show that the market definition should be narrower than the soft drink as a whole, which is in contrast with the claim made by the KFTC. The market should be most likely to be even narrower than three subgroups-carbonated drinks, fruit drinks, and other drinks. Furthermore, one cannot completely rule out that subdivision into 11 lower product groups would not still define the proper antitrust markets for soft drinks. These results support the decision of the Korean Supreme Court that the case should be reversed and remanded on the grounds that market definition is inappropriate.

방송통신 결합상품의 시장획정에 대한 검토

권남훈 ( Namhoon Kwon ) 정보통신정책학회 2017 정보통신정책연구 Vol.24 No.3

This paper considers the possibilities and usefulness of defining relevant markets for media and telecom bundles. This issue has not been discussed actively, particularly in Korea. Some of the implications drawn in this paper are as follows: First, standard SSNIP test is less useful for defining bundles markets, and it should be rather used as a benchmark to interpret price differentials. In some interpretations, bundle discounts greater than 5~10% could be evidence of increased efficiencies and competition. Second, separate market definition for bundles cannot be consistent with the claim of market power leveraging. Third, motivations for media and telecom bundling could be based on convergences or transactional complementarities, and their implications are not the same. Fourth, the possibilities of diverse relevant markets, heterogeneous consumers, complex demand substitutions, and the need for clear alternatives are all factors that make defining bundles markets a difficult exercise. On the other hand, products facing similar competitive conditions can be combined into a single market, which could simplify and expand the market for media and telecom bundles. One of the most important implications of this paper, contrary to common belief in Korea, is that an attempt to define markets for bundles could lead to greater relevant markets and to deregulation.

OTT의 시장획정 및 수직결합 경쟁효과: POOQ-옥수수 기업결합(2019)

권남훈(Namhoon Kwon) 한국법경제학회 2020 법경제학연구 Vol.17 No.1

공정거래위원회는 2019년 8월 OTT업체인 POOQ과 옥수수의 기업결합을 조건부로 승인하였다. OTT 동영상 서비스는 ICT 및 미디어 분야에서 많은 주목을 받는 업종이지만 동태적 변화가 활발하고 정의나 분류 등에 있어 통일된 견해가 정립되어 있지 않은 상태여서 분석이 쉽지 않다. 본 논문에서는 공정위가 이번 사건의 관련 시장획정 및 수직결합의 경쟁제한성 여부와 관련하여 내린 판단을 검토한다. 그 결과로 OTT 사업모형의 복잡성을 간과한 시장획정이 이루어진 측면과, 수직결합의 경쟁제한 가능성이 과대평가된 측면이 있다는 견해를 제시한다. In August 2019, Korea Fair Trade Commission (KFTC) conditionally approved the merger of POOQ and Oksusu, two major OTTs in Korea. OTTs increasingly become the center of attention in ICT and media industries, but their dynamic nature and lack of classification scheme make it difficult to analyze the market situation. In this paper, I review the KFTC’s analysis from the perspectives of the relevant market and the competitive effects of vertical integration. It is claimed that overly narrow market is defined by overlooking the complexity of OTT business models, and competitive harm of vertical integration is either unfounded or overestimated.

ICT의 발전과 저작권을 이용한 경쟁제한 행위

권남훈 ( Kwon Namhoon ) 텔코경영연구원 2016 텔코 저널 Vol.4 No.-

With the development of digital information technology, coordination of copyrights and conflicts of interests for digital contents has become an increasingly complex and important issue. In this paper, I review the possibilities of antitrust abuses by copyright holders and develop the competition policy framework to cope with such issues. To do so, I start from the fundamental conflict and tradeoff between the intellectual property rights law and the competition law and explore their logical consequences. Next, I study how main antitrust issues such as market definition, market dominance, horizontal agreements, vertical restraints, tying, and excessive pricing can be reframed for various copyright-related issues. Followed are some of the important antitrust cases involving copyright. Finally, I review some recent cases of copyright disputes in Korea with important competition policy implications.

통신시장의 시장지배력과 사전규제 및 사후규제의 조화

권남훈(Namhoon Kwon) 건국대학교 경제경영연구소 2006 商經硏究 Vol.31 No.2

In this policy paper, I investigate how to harmonize regulatory and competition policies in telecommunications. Increased competition and digital convergence have eroded the grounds for market power regulation in this industry, while there arise many cases without clear regulatory implications. I carefully check traditional arguments for ex ante market power regulations and conclude that many of them are no longer valid. For a few exceptions, simple price cap or essential facilities regulations would suffice. In the remaining part of the paper, I also suggest how to revise the market power test process to reflect ex post approach.

필수설비 투자유인을 감안한 규제방식 비교 : 규제휴일과 대가보상

권남훈(Namhoon Kwon) 한국경제연구원 2010 규제연구 Vol.19 No.1

필수설비에 대한 사후적 규제가 예상되는 상황에서 사업자는 사회적으로 바람직한설비 투자를 지연하거나 회피하고자 할 가능성이 크다. 차세대 네트워크(NGN) 환경이도래하면서 각국의 통신규제기관들은 기존 사업자의 광통신망에 대한 투자가 빠르게이루어지지 않는 것에 대해 고심하였으며, 이 과정에서 일정 기간 동안 접근권 개방을유예해 주는 이른바 규제휴일(regulatory holiday) 방식이 제안되었다. 하지만 규제휴일 방식이 과연 처음부터 규제를 부과하되 사업자의 투자 기회비용을 보상하는 수준으로 접속료를 설정하는 대가보상 방식보다 우월한지에 대해서는 규제기관은 물론 학계에서도상당한 논란이 있었다. 본 논문에서는 이와 같은 최근의 논란과 각국 정책기관의 대응을 조명하고 간단한 이론적 모형을 바탕으로 필수설비 투자유도를 위한 규제 방식을 비교해 보았다. 그 결과, 일반적으로는 대가보상 방식이 사회후생 측면에서 우월하지만,신기술의 도래로 설비 대체 투자가 필요하고, 그 시기를 사업자가 조절할 수 있는 상황에서는 규제휴일 제도가 더 바람직할 가능성도 존재하는 것으로 나타났다 Expecting heavy regulations on essential facilities ex post, firms may avoid or delay socially beneficial investment projects on infrastructure. For example, although the prospect for next generation network (NGN) has been blooming for quite a while, regulators in many countries have had difficult times to persuade operators to invest in fiber optic access networks. It has been proposed that the investment risks faced by operators should be reduced by exempting newly deployed networks from access regulation, awarding “regulatory holidays” to operators. However, those who oppose to this idea claim that there is no need for allowing monopoly exploitation, because the same goal can be achieved by allowing constant risk premium under regulation. In this paper, I survey the recent debate on this issue and devise a simple theoretical model to compare two approaches. It is shown that, while constant risk premium approach is generally better in terms of maximizing social welfare, there are some cases in which regulatory holidays is optimal.

네트워크 외부성에 대한 문헌연구: IT산업에 대한 시사점을 중심으로

권남훈(Namhoon Kwon) 건국대학교 경제경영연구소 2005 商經硏究 Vol.30 No.1

The theory of network externalities has received a great deal of attention for more than twenty years. In this paper, I conduct a survey on this fascinating issue, with a special focus on implications for IT industries. I first carefully look into the concepts of network externalities and their theoretical implications. Next, I make a critical survey on the small but growing empirical literature on network externalities and explains why it is difficult to estimate them directly. Finally, I introduce the traditional view on the policy implications of network externalities, but claim that they should be taken with some important caveats.

군중행동에 영향을 미치는 요인에 대한실험경제학적 분석

권남훈 ( Namhoon Kwon ),권유안 ( Youan Kwon ),김대환 ( Daehwan Kim ),유규상 ( Kyusang Yu ) 한국경제학회 2016 經濟學硏究 Vol.64 No.3

Using experimental methodology, this paper explores how personality trait affects individuals` propensity to herd. Behavioral experiments show that herding behavior is related to personality traits such as extraversion, low self-esteem, and low likelihood of making mistakes during experiments. Some indicators of political orientation is also related. These findings suggest that herd behavior is a consequence of individuals adopting heuristics in decision making process, and that rationality based theory alone-such as information cascade theory-cannot provide satisfactory explanation.

중국 상장기업의 국유지분율과 기업성과

진빈(Bin Chen),권남훈(Namhoon Kwon) 건국대학교 경제경영연구소 2015 商經硏究 Vol.40 No.1

본 논문에서는 중국 상장기업에 대한 국유지분율이 해당 기업의 경영성과에 미치는 영향에 대한 실증분석을 하였다. 중국 심천ㆍ상해증권거래소에 상장된 9개 산업, 634개 기업에 대해 2008~2013년의 자료를 바탕으로 분석한 결과는 다음과 같다. 첫째, 구간별(piecewise) 선형회귀분석 결과에 따르면 국유지분율의 크기와 기업성과 간에는 비선형 관계가 존재한다. 특히, 초기에는 국유지분율이 증가함에 따라 기업성과가 악화되다가 일정 수준 이상이 되면 점점 개선되는 U자 형태의 관계가 관찰된다. 둘째, 비선형 회귀분석 결과 국유지분율과 기업성과간 U자형 관계의 최저치에 해당하는 평균 국유지분율의 임계값은 30%로 추정되었다. This paper empirically studies the relationship between the state ownership and corporate performances in China. Using the panel dataset of 634 companies across 9 industries in 2008~2013, we applied piecewise linear as well as nonlinear pooled-OLS model allowing heteroschedasticity. The results show that there exists a “U” shaped relationship between the state share of ownership and three measures of corporate performances- -MOM, ROA, and ROE. The mean critical value beyond which the performance improves is estimated to be about 30 percent.