One-Person Creative Company AI Plus Acquires SK Magic in 2.2 Billion KRW M&A Deal

[Asia Economy Reporter Kim Cheol-hyun] The Korea Institute of Startup & Entrepreneurship Development announced on the 30th that AI Plus (CEO Choi Seon-mook), well known as the developer of the IoT home vegetable cultivator 'Plant Box,' has been acquired by SK Magic through a merger and acquisition (M&A). This M&A, valued at a total of 2.2 billion KRW, is expected to lay the foundation for SK Magic's entry into the plant cultivator market.

This startup, originating from Samsung Electronics' in-house venture incubation program C-Lab, was established in May 2018 and immediately moved into the 3D printer-specialized One-Person Creative Enterprise Support Center, receiving support for office space and various infrastructures. Choi Seon-mook, CEO of AI Plus, stated, "From the early stages of the business, we had a clear goal and worked hard to enhance our technological capabilities," adding, "We hope to remain a good example for early-stage startups."

Kim Kwang-hyun, President of the Korea Institute of Startup & Entrepreneurship Development, said, "The M&A of AI Plus is an achievement that overcame difficult circumstances through technological prowess," and added, "We will actively support innovative one-person creative enterprises to grow rapidly in the future."