The Broadcasting and Communications Commission launched Friday as the government's regulatory body for new media policies.

The commission was created through a merger between the Korean Broadcasting Commission and parts of the former Ministry of Information and Communication. It's the first agency in Korea to oversee both broadcasting and communications like the U.S. Federal Communications Commission.

The new agency will handle the government's proposed media policies such as easing regulations on joint operation of broadcast and print media and privatizing terrestrial broadcasters. It's also expected to facilitate development of Internet protocol television (IPTV), digital multimedia broadcasting (DMB), digital TV and other industries merging broadcasting and communications.

The agency's commissioner will hold the rank of minister and will serve directly under the president. Its four standing members will hold the rank of vice minister, making the commission a powerful body.

Former Gallup Korea President Choi Si-jung has reportedly been designated as the inaugural commissioner.