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Press Release
SK Telecom Enters Internet Business in China
2000.05.18Formed a Joint Venture with the Largest Chinese Game Software Developer Gameking
SK Telecom is gearing up for entering the Chinese Internet market.
Korea?s largest mobile carrier announced on May 18 that it had decided to join hands with Gameking (Shenzhen Gameking Software Co., Ltd), the largest game software developing company in China to develop game software and launch game portal service.
It said that the head of its overseas business operation Managing Director Choi Hyo Jin and Gameking President Ju Mu had signed an agreement to form a joint venture company named ?Shenzhen Gameking SK Software Ltd.? in which the company agreed to invest 1.2 million dollars.
By signing the agreement, SK Telecom secured the beachhead to enter China?s Internet market that is considered to have the potential to grow into the single biggest Internet market in the world in the coming years. At the same time, the company can expect synergism for the domestic Internet industry through sharing game software and game information with the Chinese company.
Managing Director Choi says, This is the first case where Koreas large conglomerate enters the Chinese Internet market. We expect that increased activity in the Chinese market will help improve company and brand recognition and boost the corporate image as a leading IT company in China.
SK Telecom plans to expand the game portal to include other promising areas such as finance, education, culture and e-commerce. Once it has established its presence in the Internet market, it plans to form a China-Korea community.
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Korea?s largest mobile carrier announced on May 18 that it had decided to join hands with Gameking (Shenzhen Gameking Software Co., Ltd), the largest game software developing company in China to develop game software and launch game portal service.
It said that the head of its overseas business operation Managing Director Choi Hyo Jin and Gameking President Ju Mu had signed an agreement to form a joint venture company named ?Shenzhen Gameking SK Software Ltd.? in which the company agreed to invest 1.2 million dollars.
By signing the agreement, SK Telecom secured the beachhead to enter China?s Internet market that is considered to have the potential to grow into the single biggest Internet market in the world in the coming years. At the same time, the company can expect synergism for the domestic Internet industry through sharing game software and game information with the Chinese company.
Managing Director Choi says, This is the first case where Koreas large conglomerate enters the Chinese Internet market. We expect that increased activity in the Chinese market will help improve company and brand recognition and boost the corporate image as a leading IT company in China.
SK Telecom plans to expand the game portal to include other promising areas such as finance, education, culture and e-commerce. Once it has established its presence in the Internet market, it plans to form a China-Korea community.
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