We prove the inefficiencies of the current monopoly and regulations by KOBACO in the Korean broadcasting advertising industry, and suggest competitions in the media rep market. As the main contribution, using market data and theoretic analyses, we show that the hypothesis by the public interest theorists that allowing competition will raise up prices of the advertised products and degrade program qualities is completely false, and the truth is the converse; that is, the current regulations by KOBACO lowers down both consumer welfare and total surplus. Finally, we propose that there must be no restrictions in introducing competition in the media rep market, except prohibiting the ownership of the media rep by both advertisers and KOBACO.