Merger mania and telcos chasing the video opportunity has now leaked over into South Korea with SK Telecom making the first aggressive move with the purchase of the market leading cable operation. South Korean operator SK Telecom has bitten the bullet and acquired the largest Korea cable operator CJ Hellovision, in a financially complicated merger with its IPTV division. The aim is to put it in a position to challenge pay TV market leader Korea Telecom, which currently has more than double the customers of the next placed pay TV players. So far there has been no response from regulators there, but South Korea is always keen to ensure that competition remains on the boil, and they may well step…