SK Telecom spin-off platform business

Lin Yuan, South Korea's largest mobile operator SK Telecom announced May 31, in order to focus more on the newly launched business, plans to divest this October 1 operating platform. SK Telecom said in a statement: "SK Telecom has decided to set up a separate subsidiary company to divest the platform business." "SK Telecom has decided to set up a separate subsidiary company by splitting its platform business, which is seen as the driving force for the next generation of performance growth.　　SK Telecom said in a statement. A spokeswoman for SK Telecom said the services offered by the platform business included video calls, mobile ads and other content services for smartphones, tablets and televisions.　　The spokesman also said the new affiliate would be wholly owned by SK Telecom. The plan also awaits approval from SK Telecom's board of directors.　　In the highly competitive South Korean telecom market, SK Telecom has previously seen the market's strong demand for multi-functional mobile terminals as a new profit growth point.　　Last year, SK Telecom said it planned to invest 1 trillion won ($ 927 million trillion) in the next 3 years to develop smartphone apps and software, and looked forward to further stimulating the company's software sector's current performance and boosting smartphone sales. "The spin-off of the platform business will enhance SK Telecom's corporate value." "After the break-up, the sector will be able to make faster decisions and respond quickly to market trends, helping the company consolidate its platform business," said Yang Jong-in, an analyst at the South Korean investment and securities industry. ”