Duzon Bizon Secures 74% Stake in Electronic Times for 56 Billion KRW

Duzon Bizon announced on the 25th that it has signed a contract to acquire shares of Electronic Times from Hoban Construction. The acquisition involves the entire 74.38% stake (441,230 shares) held by Hoban Construction, with the purchase price amounting to approximately 56 billion KRW.

As a leading company in the Information and Communication Technology (ICT) sector acquires a specialized media outlet, the two companies are expected to leverage their strengths to create a new milestone leading the digital transformation (DX) era. By combining Duzon Bizon's specialized technological capabilities with Electronic Times' ICT information resources, synergies are anticipated in the market and industry during the digital age represented by artificial intelligence (AI). Both companies share a common goal of leading the ICT field in the industrial and media sectors.

The background for Duzon Bizon's acquisition of Electronic Times lies in its growth as a SaaS Integration Platform company incorporating cloud, big data, and artificial intelligence, as well as its symbolic role as a leader in digital transformation. By fully embracing Electronic Times' identity as a media company with its ICT information and content production capabilities, and faithfully fulfilling its role as the largest shareholder, it is explained that the company can strengthen its social role through the development of domestic industry. Plans include guaranteeing editorial independence and supporting focused development of specialized content such as articles, videos, and data.

A representative from Duzon Bizon stated, “As society rapidly changes across all areas based on ICT in the era of digital transformation (DX), it has become increasingly important to bridge the digital divide so that everyone can enjoy the benefits of technology. As a DX-leading company guiding the future digital transformation environment, we believe that through synergy with Korea’s leading ICT specialized media, we can enhance the nation’s future technological competitiveness.”

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