ID :
212157
Tue, 10/11/2011 - 09:39
Auther :
Shortlink :
http://m.oananews.org//node/212157
The shortlink copeid
SK Planet eyes 3.5 tln won in revenue in 2016
SEOUL, Oct. 11 (Yonhap) - SK Planet, SK Telecom Co.'s wholly-owned mobile platform affiliate, said Tuesday that it aims to post 3.5 trillion won (US$3.01 billion) in revenues in 2016.
The company was divested from South Korea's largest mobile operator as of Oct. 1 to accelerate decision-making and better respond to market changes.
SK Planet's market value will reach at least 5 trillion won in five years, its chief executive told reporters. It has no plans to list its shares on the country's stock market.
SK Planet is also reviewing a takeover opportunity of a U.S. company as it seeks to quickly establish its footing in the U.S. market, its chief executive said.
"We are currently reviewing an acquisition. We will be able to announce soon," SK Planet CEO Seo Jin-woo said but declined to disclose the name of the target firm.
SK Planet, which has an online music streaming service, is interested in a new media company in the U.S., Seo added.
The CEO added that SK Planet will build up from its businesses in Northeast Asia to go global. The company operates mobile application store businesses in China and Taiwan.
The new company's move to go global, if successful, will set it apart from its parent SK Telecom. SK Telecom's recent efforts to make forays into overseas markets proved unsuccessful.
Earlier this year, the country's leading mobile carrier was outbidded in a race to acquire Blockbuster Inc., the U.S.-based video rental chain. SK Telecom also reviewed placing a bid to takeover Hulu LLC but scrapped the plan on price and other concerns, a person familiar with the matter said.
"We were not interested in Blockbuster's offline rental stores. We were looking at its content, its relationship with content owners and its brand," Seo said.
It is very important for the new company to secure content, such as rights for TV shows, films, music and others, in order to advance into the overseas market, according to the CEO, who was a co-president of SK Telecom before the spin off.
SK Planet's operations include online commerce, mobile applications and software and platform services.
The company was divested from South Korea's largest mobile operator as of Oct. 1 to accelerate decision-making and better respond to market changes.
SK Planet's market value will reach at least 5 trillion won in five years, its chief executive told reporters. It has no plans to list its shares on the country's stock market.
SK Planet is also reviewing a takeover opportunity of a U.S. company as it seeks to quickly establish its footing in the U.S. market, its chief executive said.
"We are currently reviewing an acquisition. We will be able to announce soon," SK Planet CEO Seo Jin-woo said but declined to disclose the name of the target firm.
SK Planet, which has an online music streaming service, is interested in a new media company in the U.S., Seo added.
The CEO added that SK Planet will build up from its businesses in Northeast Asia to go global. The company operates mobile application store businesses in China and Taiwan.
The new company's move to go global, if successful, will set it apart from its parent SK Telecom. SK Telecom's recent efforts to make forays into overseas markets proved unsuccessful.
Earlier this year, the country's leading mobile carrier was outbidded in a race to acquire Blockbuster Inc., the U.S.-based video rental chain. SK Telecom also reviewed placing a bid to takeover Hulu LLC but scrapped the plan on price and other concerns, a person familiar with the matter said.
"We were not interested in Blockbuster's offline rental stores. We were looking at its content, its relationship with content owners and its brand," Seo said.
It is very important for the new company to secure content, such as rights for TV shows, films, music and others, in order to advance into the overseas market, according to the CEO, who was a co-president of SK Telecom before the spin off.
SK Planet's operations include online commerce, mobile applications and software and platform services.
