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stitute different relevant markets, since they are not substitutable in
terms of their intended purposes and properties from the view of cus-
tomers. In this respect, sea services, land services and leasing services
that are provided in marinas have been evaluated, severally.
Relevant Product Market with regard to Sea Services: Whether
mooring services rendered in boat parks and fishing ports are substi-
tutes to marina mooring services was evaluated. Concerning mooring
services, it has been decided by the Board that boat parks are inter-
changeable with marinas in terms of their prices, intended purposes,
and properties by customers and, thus, they may be evaluated within
the same relevant product market. However, the Board has determined
that fishing ports are not interchangeable with marinas, and they are
not allowed within the same relevant product market.
Relevant Product Market with regard to Land Services:
Marina
land services are limited to boatyard services. The Board is of the opin-
ion that there is no defining element of boatyard services that are pro-
vided by marinas in land fields from which to distinguish boatyard ser-
vices offered by other facilities.
Relevant Product Market with regard to Leasing Services:
Whether
or not field leasing services rendered by marinas are substitutes for
land leasing services rendered by entity consumers, other than marinas,
has been examined, and it has been concluded that with regard to leas-
ing services, there is no need to limit the relevant product market def-
inition concerning the leasing services offered by marinas.
In light of the foregoing, the Board has defined the relevant prod-
uct markets as “
mooring services rendered in marinas and boat parks
,”
“
boatyard field services market,
” and “
field leasing services market.
”
Relevant Geographic Market:
Relevant geographic markets are
areas in which undertakings are involved in the supply of products or
services, and in which the conditions of competition are sufficiently
homogeneous, and which can be disassociated from neighborhood
markets, as the conditions of competition differ considerably there-
from.
The relevant geographical market analysis for the purposes of this
transaction has been separately identified in terms of the relevant prod-
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