KT to Absorb KT NexR in Merger... "Strengthening Data Business Competitiveness"

KT Absorbs Big Data Affiliate KT NexR
"Merger for Data Platform Innovation"

KT will absorb and merge its big data affiliate KT NexR to strengthen its competitiveness in the data business.

According to the DART electronic disclosure system on the 25th, KT announced the day before that it will absorb and merge KT NexR.

KT plans to acquire all shares from KT DS, which holds 100% of KT NexR's shares, on the 2nd of next month, without issuing new shares.

Regarding the background of the merger, KT stated, "It is to innovate the data platform and strengthen competitiveness in the data business," and added, "This does not constitute a backdoor listing."

Once the merger is completed, KT NexR will be dissolved, and KT will succeed all employment of KT NexR's employees.

Established in 2007, KT NexR has been engaged in the development, construction, and operation of big data platforms, with 110 employees.