News
SK Planet and SK Marketing & Company were officially merged into a single entity on February 1.
SK Planet, a surviving entity, will operate all businesses previously run by SK M&C - including OK Cashbag, advertising, and location-based service (LBS) - as well as its existing lines of business such as T store, T map, 11th Street, Hoppin, and Smart Wallet.
In particular, the company aims to create synergy effects through the merger mainly around digital contents, new commerce, and marketing communications, as well as to gain entry into overseas markets. One official with SK Planet said, “As for marketing communications, we will consolidate advertising business that has been run by SK Marketing and Company,” adding, “We also plan to offer an advertising platform different from the previous one and one that covers new media such as social networks, and we will eventually transform the platform into one of the key pillars of SK Planet’s business.”
SK Planet CEO Seo Jin-woo said, “Newly-born SK Planet will strengthen business infrastructure such as big data and will move forward with operations based on digital contents and commerce,” adding “We will offer a more integrated, competitive platform service.”
The merged entity has 2.4 trillion won worth of assets with annual sales of 1.7 trillion won. It currently employs a total of 1,700 people.