SK Networks Acquires SK Telink's Domestic and International Used Phone Business

[Asia Economy Reporter Suyeon Woo] SK Networks has acquired SK Telink's used phone business.

On the 29th, SK Networks announced that it signed a business transfer agreement with SK Telink to acquire SK Telink's domestic business and its Vietnam subsidiary. The acquisition amount is 4.2 billion KRW, and the related procedures are expected to be completed by July 1.

An SK Networks official stated, "As an information and communication distribution company, we made this acquisition decision considering that we can provide customers with more convenient and leading value, enhance social value, and the potential for global business expansion."

With this, SK Networks will be able to increase the transaction channels of Mintit ATM, currently operated mainly in over 400 large supermarkets nationwide. Additionally, using the Vietnamese market as a foothold, it has established a foundation to expand the global used phone distribution business through partnerships with mobile phone manufacturers and distributors.

SK Networks plans to strengthen its core competitiveness in the information and communication distribution business based on its ICT distribution and marketing capabilities and digital technology, while continuously creating social value through the establishment of a recycling ecosystem.