Korea's largest mobile carrier, IT firm join forces in US$256 mil. share swap deal
- 5 years ago
Two South Korean internet giants are joining forces in new fields of digital technology,... based on the super-fast 5G mobile network.
SK Telecom and Kakao have announced what they call a "strategic partnership" through a share swap deal worth 256 million U.S. dollars.
SK will own a two-point-five percent stake in Kakao, while Kakao will take a one-point-six percent stake in SK Telecom.
The two companies aim to develop new 5G services for commerce, shopping and content.
They also plan to work on new technologies based on AI and the Internet of Things.
SK Telecom and Kakao have announced what they call a "strategic partnership" through a share swap deal worth 256 million U.S. dollars.
SK will own a two-point-five percent stake in Kakao, while Kakao will take a one-point-six percent stake in SK Telecom.
The two companies aim to develop new 5G services for commerce, shopping and content.
They also plan to work on new technologies based on AI and the Internet of Things.