SK Networks Acquires Media Rep 'Incross' for 39.2 Billion KRW... "Diversifying Business Portfolio"

"Positioned as a Leading Player in the Future Advertising Market"

SK Networks is diversifying its business portfolio by acquiring 'Incross', a media rep company, aiming to enhance financial soundness and create synergies with its existing businesses.

On October 30, SK Networks held a board meeting and announced on October 31 that it had decided to purchase 4,631,251 shares (36.06%) of Incross, currently owned by SK Square, for 39.2 billion KRW, and had signed a stock purchase agreement.

Incross is one of the top three media rep companies in Korea, supporting the entire advertising operation. It is recognized for its strength in offering a wide range of products, including display ads, search ads, and commerce rep services tailored to customer needs.

SK Networks, which has been innovating business models by integrating artificial intelligence (AI), explained that the decision to acquire this stake was based on its ability to lead Incross’s AI Transformation (AX) by leveraging its AI and data management capabilities.

Additionally, with several B2C businesses such as SK Intellix, SK Speedmate, Walkerhill, and Mintit, SK Networks expects to combine these with Incross’s advertising and commerce capabilities to further enhance business competitiveness.

SK Networks plans to smoothly proceed with the remaining procedures together with SK Square and others, continuously strengthen Incross’s cash generation based on its stable business structure, improve financial soundness, and foster Incross as a leading company in the domestic advertising market.

An SK Networks representative emphasized, "We will create acquisition synergies by linking Incross’s vast consumer data, the source of its business competitiveness, with SK Networks’ AI utilization capabilities and data management technologies."

Meanwhile, this share transaction is also part of SK Square’s portfolio rebalancing strategy. SK Square stated, "We are reorganizing our portfolio around AI infrastructure and semiconductors, and by liquidating our stake in Incross, we will secure resources for future investments."

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