Chai Communication to Merge with Korea SPAC No.11... "KOSDAQ Listing in September"

Chai Communication, an AI-based digital marketing specialist company, announced on the 30th that it has approved the merger agenda with Korea No.11 SPAC through a general shareholders' meeting. The merger ratio between the two companies is 1 to 0.1970249, and the merger price is 10,151 KRW.

Chai Communication plans to use the funds raised through this listing for infrastructure construction and operating expenses to maximize work efficiency. Specifically, it will be used to expand existing businesses by △developing machine learning algorithms △developing new advertising solutions based on proprietary AI models △developing advertising content production processes using AI.

Chai Communication recorded sales of 56.4 billion KRW on a consolidated basis last year. Operating profit and net income were 8.6 billion KRW and 7.3 billion KRW respectively, demonstrating stable profitability. This year, it is expected to continue steady growth by securing large-scale new orders from major corporations and public institutions based on its excellent content production capabilities.

Chai Communication is expanding the application of generative AI technology by launching its own generative AI platform. Chai Communication’s proprietary AI platform combines ‘ChatGPT’ and Naver’s ‘HyperCLOVA’ to produce complete content based on its own algorithms.

A representative of Chai Communication stated, “We will enhance AI technology and strengthen our core business capabilities starting from the listing to carry out optimized marketing,” adding, “By proactively adopting generative AI technology, we will solidify our competitive advantage within the industry and maximize cost reduction effects to continue performance growth.”

Chai Communication is scheduled to enter the KOSDAQ market on September 27.

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