[Shareholders Meeting] SKT Park Jung-ho "Subsidiary IPO Roadmap to Be Detailed as Early as April"

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[Asia Economy Reporter Minyoung Cha] Park Jung-ho, CEO of SK Telecom, announced that as early as April, he plans to disclose the listing plans of subsidiaries such as One Store, Wavve, and 11st. This is in line with the governance restructuring plan, aiming to concretize the roadmap for subsidiary listings.

At the 37th regular shareholders' meeting of SK Telecom held on the morning of the 25th at T Tower in Euljiro, Seoul, CEO Park stated, "I believe we should expedite IPOs while capital market liquidity is favorable," adding, "We will proceed with subsidiary IPOs as scheduled this year."

He explained, "There have been questions about whether stocks will rise once the (subsidiary) IPOs proceed, and we have given this a lot of thought," adding, "I hope you understand that conducting (subsidiary) IPOs signifies a greater meaning of how much a seemingly intangible business model is recognized in the capital market."

The subsidiaries most likely to be listed on the stock market currently include One Store, an app market service company; Content Wavve, the operator of the online video streaming service (OTT) Wavve; and 11st, an online shopping mall.

CEO Park said, "We will list One Store first, and Wavve will be the next to prepare," adding, "The timing of concretizing these plans is expected to coincide with our governance announcement around April to May."

He added a caveat, "However, for 11st, more important than the IPO is the aspect of strategic alliances." Given that this is a crucial time for strategic alliances such as ultra-cooperation with Amazon, he judged that strengthening competitiveness in the market is more important than preparing for a listing.

This content was produced with the assistance of AI translation services.