Skonec Announces Large-Scale New Business Expansion... Initiates Full-Fledged 'Entertainment Transformation'

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Skonec Entertainment announced on December 1 that it will hold an extraordinary general meeting of shareholders on December 15, during which it plans to implement a large-scale organizational restructuring and appoint key figures from the global entertainment and content industries to its board of directors.

The agenda for this extraordinary shareholders’ meeting includes a significant number of candidates for directorships who are experts with extensive experience in entertainment, film, drama, and IP business. Skonec stated that, by adding new business objectives, it plans to shift its strategic focus toward entertainment.

Kim Jeonga, a candidate for internal director, is a prominent leader in the Korean content industry, having served as CEO of CJ Entertainment and CEO of CJ E&M. Her comprehensive experience overseeing the entire process of film, drama, broadcasting, and integrated content production, investment, and distribution aligns with the newly added business areas in Skonec’s articles of incorporation, including video production, music albums, drama, and film.

AOKI EIJI, another candidate for internal director, is recognized for building an international network in entertainment, sports, and media IP business. With extensive experience expanding content in both the Japanese and global markets, analysts believe Skonec is likely to accelerate its entry into the Asian and global entertainment markets beyond Korea.

In addition, as part of its new business initiatives, Skonec plans to integrate its existing core VR business with the performance and event sector, positioning VR concerts and virtual idol projects as new blue ocean businesses and future growth engines for the company.

Kim Sangsu, a candidate for outside director, is expected to reinforce legal and governance stability required for the expansion of the entertainment business, drawing on his experience at the Korea Exchange’s listing and disclosure department and as an attorney at the law firm Panshim.

A Skonec representative stated, "With the addition of these new board members, Skonec will clearly demonstrate to the market where its focus lies going forward," adding, "We are preparing to transform into a comprehensive content company centered on high-value-added IP in entertainment, content, management, film, drama, and music, while combining these with our existing XR technology capabilities."

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