South Korea's antitrust watchdog said Wednesday that it has decided to launch a streamlined and less time-consuming process called "commitment decision" in probing two major Internet portal operators accused of hurting fair market competition by using their dominant position.

This move would likely help NAVER Corp. and Daum Communications Corp. avoid a huge amount of penalties from the Fair Trade Commission's probe. The two have been under investigation for hurting fair market competition since May.

A commitment decision refers to a process that the FTC can use in finalizing a case swiftly without making any determination on the illegality of the case when companies under investigation come up with what it views as reasonable corrective measures voluntarily and compensation for any damage incurred.

"We made this decision by taking into consideration that the online search market is a dynamic market where technologies and other situations are changing fast and that a swift action is necessary to bring the market back to normalcy since Internet search is pertinent to everyday lives of the general public," Ji Chul-ho, a senior FTC official in charge of the matter, told reporters here.

 Earlier in the day, the FTC held a meeting to review whether to launch the commitment decision process at the request of the country's two largest Internet portal operators.

The commitment decision process has been regarded as an effective way to resolve a case fast as it does not require a bureaucratic process of determining the illegality of a case. It can also be used to enforce corrective measures that could help the market get back on track swiftly.

Though the system was introduced here in November 2011, this is the first time for the process to be implemented, the FTC noted.

Once the process starts, the two portal operators and the FTC should agree and put forth preliminary corrective measures that could address alleged infringements within 30 days.

The FTC will then have up to two months to collect public opinions from stakeholders and relevant government agencies before making a final decision on the matter, the watchdog said. It will make a final decision on this matter by holding a meeting later.

Ji said that the decision to start this process does not necessarily mean that the two could avoid penalties altogether, adding that punitive action will be taken if the measures that they come up with are regarded as "insufficient" to address market concerns.

"In the process of enforcing the commitment decision process, the FTC will work hard to collect diverse opinions from those involved in order to establish fair and free market rules while protecting consumers and other competitors," the watchdog said (Yonhap News)