[Click eStock] "SK Telecom Strengthens Partnership through Acquisition of Hana Financial Group Shares"

KB Securities Report

[Asia Economy Reporter Minji Lee] KB Securities analyzed on the 25th that SK Telecom's acquisition of shares in Hana Financial Group is meaningful in terms of strengthening the partnership and increasing the possibility of liquidity of unlisted shares.

SK Telecom decided to sell its 15% stake in Hana Card to Hana Financial Group for 330 billion KRW to strengthen its partnership with Hana Financial Group and to acquire a 3.09% stake in Hana Financial Group. Hana Financial Group decided to acquire 0.6% and 0.5% stakes in SK Telecom and SK Square, respectively, through Hana Card, which became its 100% subsidiary.

Junseop Kim, a researcher at KB Securities, said, "SK Telecom's move is meaningful not only for strengthening the partnership but also for increasing the possibility of liquidity of unlisted shares," adding, "This is because SK Telecom sold its stake in the unlisted company Hana Card and acquired shares in the listed company Hana Financial Group."

This share acquisition is significant in discovering new businesses through the combination of financial and telecommunications data. The two companies are reportedly pursuing future cooperation in six major areas, including financial digital transformation. Key cooperation areas include ▲ development of AI customer response solutions ▲ strengthening cooperation in data business ▲ enhancement of metaverse platforms ▲ launch of converged financial product services for SKT ICT family customers ▲ mutual infrastructure sharing.

Researcher Junseop Kim explained, "They will also promote the launch of converged products and services in commerce and media security areas of SK Telecom and its affiliate SK Square," and added, "It is also analyzed that synergy councils involving strategic managers from each group will be held regularly to establish a seamless mutual cooperation process."