SK Square (CEO Park Jeong-ho) and its subsidiaries announced that OneStore (CEO Lee Jae-hwan) submitted an application for preliminary examination for listing on the Korea Stock Exchange (KOSPI) on the 26th and plans to go public (IPO) with the goal of the first half of next year.
SK Square officially announced its IPO in the first half of next year by selecting One Store as the first IPO subsidiary since its launch.
One Store was incorporated as a subsidiary of SK Square as SK Telecom was spun off on November 1st. The One Store IPO is the first step in implementing the launch motto of SK Square, which aims to properly recognize the value of its subsidiaries in the market.
Since its launch in 2016, OneStore has grown into a representative app market in Korea amid competition from global app markets. In 2020, it succeeded in turning its net profit into an annual surplus, and in the first half of 2021, it recorded an operating profit surplus. In addition, in the third quarter, the total transaction amount increased by 27.8% compared to the same period of the previous year.
One Store plans to accelerate the growth of existing businesses in the domestic market and grow into a ‘global multi-OS content platform’ beyond the boundaries of regions, devices and OS, and business areas.
First, in order to accelerate the growth of the existing business, the app market, it plans to enter into a strategic partnership with Blizzard Entertainment, a large global game company, and release the game ‘Diablo Immortal’, which is currently under development, on the One Store. Previously, Blizzard’s Hearthstone was released on the One Store and achieved good results.
In addition, in July, it made an equity investment in China’s largest webtoon platform ‘Kwai Khan’, preparing a bridgehead for ‘K-Story Content’ to enter the global market. In addition, it plans to foster the story content business as a new business through the acquisition of Lock Media and a joint venture with Yes One Studio.
Recently, it also announced plans to cooperate with a number of global companies such as Microsoft, Tencent, and Blizzard.
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Meanwhile, following KT and LG U+ in March, Microsoft and DTCP, an investment company specializing in Deutsche Telecom’s investment, joined One Store as shareholders in June.
The listing organizers are NH Investment & Securities and KB Securities, and SK Securities is the co-host.
