KT Merges Big Data Affiliate KT NexR to Secure AI Talent

KT announced on the 24th that it will absorb and merge its big data affiliate KT Nexr.

KT plans to acquire 100% of the shares of KT Nexr from KT DS, which currently holds all the shares, on the 2nd of next month.

The company stated, "This merger is a non-capital increase merger without issuing new shares, so there will be no change in KT's largest shareholder ownership and shareholding ratio after the merger is completed."

KT explained that as securing artificial intelligence (AI) technology becomes increasingly important and competition for related talent intensifies, it decided to merge with KT Nexr, which holds the largest number of data specialists among KT's IT group companies.

Through this merger, KT will strengthen its competitiveness in the data sector, which is fundamental to the AICT (Artificial Intelligence + Information and Communication Technology) transformation.