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- Closing acquisition of ‘en-core,’ a full-stack data management solution provider
- “We will boost the profitability of SK Networks and strengthen it as an AI-enabled business-oriented investment model”

Implementing an investment strategy to link innovation of its business portfolio with future growth drivers in a bid to highlight its identity of a ‘business-oriented investment company,’ SK Networks closes the acquisition of ‘en-core’ to enhance its company-wide foundation for AI businesses.

SK Networks (CEO: Ho Jeong Lee) announced on the 6th that the company fully paid 95.1 billion 10 million won to buy 88.47% stake in en-core, a data solution and consulting service provider. The deal was closed in about three months after the Board resolution passed in July. The closing of the deal was celebrated on the day at SK Network’s head office in Samil Building by key management leaders including CEO Ho Jeong Lee of SK Networks, President Sunghwan Choi of SK Networks’ business division and CEO Lee Hwa Sik of en-core.

Accommodating en-core, a leading data management solution provider in Korea, as its subsidiary, SK Networks can expect to secure stable revenue stream and firmly establish data-empowered governance platform. Furthermore, the company can put spurs to the deployment of company-wide AI-centric value chain.

Accredited with 27-year-long business history, en-core is representative of data management consulting and solution sector, serving over 500 clients in various industries from communications to finance and mobility. Notably, in terms of data management service which is one of its key business domains, en-core has entrenched a business presence differentiated from competitors, offering Korea’s one and only full-stack service platform consisted of nine different solutions for modeling, _data and quality management to name a few. Leveraging such a vantage point, en-core posed 29.5 billion won in sales and 6.5 billion won in operating income last year, which foretells even more positive growth trajectory in line with the increasing demands of corporations for integrated data management amid the explosive growth of AI technology and cloud business. With its footprints across a variety of industries including ICT, home appliance rental, mobility and hotel, SK Networks is expected to harness the technological prowess of en-core in upgrading its data management system to pave way for evolution towards an AI company.
 
Starting off as a subsidiary of SK Networks, en-core will soon announce a corporate vision containing its strategic orientation. SK Networks vows to further enhance the business competitiveness of en-core and advance its business-oriented investment company model on AI technologies.

“We will help en-core expand its business model to encompass data analytics and venture overseas into Southeast Asia and Japan beyond Korea,” said CEO Ho Jeong Lee of SK Networks. “SK Networks will use synergy with en-core to better inform its business portfolio of data assets available at subsidiaries to transform itself into an AI company.”

[Photo caption 1] SK Networks has completed the payment of 95.11 billion won for the acquisition of an 88.47% stake in en-core, a data solutions and consulting company. On the 6th, a commemorative ceremony was held at the Samil Building. In the photo from the event, there is Ho Jeong Lee, CEO of SK Networks (center), Lee Hwa Sik, CEO of en-core(left), and Shin in soo, CEO of _-M(right).

[Photo caption 2] At the SK Networks-en-core stake acquisition contract commemorative event held at the SK Networks Samil Building on the 6th, there were various representatives from both companies, including Ho Jeong Lee , CEO of SK Networks (fourth from the left), Sunghwan Choi, COO of SK Networks (third from the left), and Lee Hwa Sik, CEO of en-core. (fifth from the left).