According to VGC , the Korea Fair Trade Commission (KFTC) said it has approved Microsoft's $69 billion deal, saying it has no concerns about competition being limited if Blizzard's games are owned by the Redmond giant.

The KFTC explained that in South Korea alone, the popularity of Activision Blizzard games is quite low and thus they are also not very important in the country.

The agency also indicated that it had held discussions with competition authorities in several other countries to get their views on the deal, but South Korea also said that its decisions could differ because Activision Blizzard's games in those regions also have different levels of importance.

The deal has now received approval from nearly 40 global regulators – earlier this month, the European Commission and China's competition regulator both cleared the deal, which will see Microsoft gain early ownership of popular gaming franchises like Call of Duty and World of Warcraft .

However, the UK and US continue to pose major hurdles for Microsoft. In April, the UK's Competition and Markets Authority (CMA) said it was blocking the deal due to concerns about its impact on the nascent cloud gaming market. Microsoft formally appealed the CMA's decision last week.

The US Federal Trade Commission also sued Microsoft in an attempt to block the acquisition over antitrust concerns.