SK Telesys Sells Communication Equipment and Maintenance Business to Pantech

Exterior view of SKC headquarters. Photo by SKC

[Asia Economy Reporter Choi Dae-yeol] SK Telesys has signed a contract to sell its subsidiary SKC Infra Service, which operates in the telecommunications equipment business and network maintenance business, to Pantech C&I, the parent company SKC announced on the 24th. The sale price is 78.9 billion KRW, and the related procedures are expected to be completed by August.

SK Telesys plans to use the funds generated from this sale to strengthen its business model centered on the semiconductor business. Last year, SKC made SKC Solmix, the domestic No. 1 company in the fine ceramics field of high-precision parts and materials, a wholly owned subsidiary and integrated SKC's semiconductor materials and parts business into Solmix.

Additionally, SKC is closing existing businesses and expanding into mobility and semiconductor materials sectors, which are considered growth engines at the group level. Last year, SKC acquired SK Nexilis, a company engaged in materials for secondary batteries, making mobility materials a key growth driver. SKC also spun off its chemical business to establish a joint venture with Kuwait's national oil company, while selling shares in the colored PI film manufacturer SKC Kolon PI and the cosmetic raw material company SK Bioland.