Final Approval of KTH-KT M-House Merger ... Reborn as 'KT alpha' from July

Determination to Become a Leading Digital Commerce Platform Company

[Asia Economy Reporter Jo In-kyung] KTH, which operates K Shopping, is merging with KT M-House and changing its company name to 'KT alpha.'

On the morning of the 27th, KTH announced at an extraordinary general meeting held at its headquarters in Dongjak-gu, Seoul, that the merger plan with KT M-House was finally approved, and the full merger process will begin.

At the extraordinary general meeting, the agenda included approval of the merger and partial amendments to the articles of incorporation regarding the company name change, all of which were passed as originally proposed.

The merger date is set for July 1, and the surviving entity after the merger will be KTH. Following the launch of the new merged corporation, KTH will change its company name to 'KT alpha Co., Ltd.' The company explained that this reflects its innovative commitment to discovering new opportunities and providing the best experiences as a specialized digital commerce platform company.

The new merged corporation plans to combine the ICT-based commerce business capabilities of KTH, a leading T-commerce operator, and KT M-House, a mobile coupon-focused business, to overcome the growth limitations of TV home shopping and online businesses. At the same time, it aims to propose a new paradigm in the commerce market by pursuing various new businesses and enhancing corporate value.

Jung Ki-ho, CEO of KTH, said, "Through the successful establishment of the merged corporation, we will achieve balanced growth in scale and profitability by not only creating business synergies but also developing new commerce business models and expanding the market."

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