SKT board members OK platform spin-off

SK Telecom said Wednesday its board members agreed to spin off its platform unit, most likely headed by platform business president Seo Jin-woo, during a board meeting earlier on Tuesday.
 

Company officials said the board members approved the spin off to boost the project expertise and strengthen the competitiveness of related projects through efficient distribution of the business resources. The new subsidiary could also fast respond to the changing trend of the market and take up more responsibility for its actions, officials added.

A general stakeholders’ meeting has been scheduled for Aug. 31 in southwestern Seoul and the new platform unit will be split by Oct. 1, according to company officials.

(sharon@heraldcorp.com)