SK Square Strategically Sells Stake in NaouEnTech... Secures 58 Billion KRW

[Asia Economy Reporter Lim Hye-seon] SK Group's investment specialist company SK Square has sold its entire stake in bio healthcare company NanoEntek for 58 billion KRW. After investing 25 billion KRW in 2011 to acquire shares in NanoEntek, it earned a profit of 25 billion KRW over more than 10 years.

On the 20th, SK Square announced that it disposed of 28.4% (7,600,649 shares) of NanoEntek to domestic private equity fund J&W Partners. NanoEntek is a company that manufactures in vitro diagnostic medical devices and biotechnology research instruments. It produces kits that can simultaneously diagnose COVID-19 and influenza antigens. The company recorded sales of 35.7 billion KRW and operating profit of 5.2 billion KRW last year.

This is the first time SK Square has realized investment gains. SK Square cited securing new investment funds as the reason for realizing profits. Since its launch in November last year, SK Square has invested a total of 180.3 billion KRW in four companies: virtual asset exchange ‘Korbit’ (87.3 billion KRW), 3D digital human production company ‘Onmind’ (8 billion KRW), domestic agricultural innovation company ‘Greenlabs’ (35 billion KRW), and game-type metaverse developer ‘HaeGin’ (25 billion KRW). SK Square holds shares in 19 companies.

SK Square plans to secure more than 2 trillion KRW of its own investment funds over three years through realizing investment profits and other means. It aims to invest in leading global semiconductor companies in advanced markets such as the US and Japan to seek business synergy with SK Hynix. It will also invest in next platform areas like blockchain to preoccupy future innovative industries. The leadership of Park Jung-ho, SK Square Vice Chairman (CEO) and an ‘M&A strategist,’ is expected to shine.

Park Jung-ho, CEO (Vice Chairman) of SK Square, said, "This year, amid global macroeconomic uncertainties, there will be many opportunities in the M&A market to invest in good companies at good prices," adding, "We are considering various ways to enhance shareholder value."

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