It is the most powerful regulation that decide who will broadcasting business. The grounds of this regulation are largely that: electromagnetic wave is scarce, so all of those who want to operate a broadcasting system cannot do it, and the providers have to set fair to operate a broadcaster (ex, financial power, social experiences etc.) Until just recently large companies (above top 30), newspaper, agency couldn't operate a broadcasting system because of the independence of media. (It caused problems in Korea in history.) But recently newly revised media law allows it.