Tuesday, April 01, 2008

[The Chosun Ilbo, March 20 2008] SKT Looking to Buy Chinese Video Game Maker

SK Telecom has rolled up its sleeves to enter the Chinese video game market. An SK Telecom executive said Wednesday that the company has formed a task force and is working to acquire a Chinese game company.

The Korean company has turned its eyes to Chinese gamers as the game market in the world's most populous country is growing at a breathtaking rate. According to the Korea Game Development & Promotion Institute, the Chinese game industry posted total sales of no more than 11.34 billion yuan last year, but it grew a whopping 59.1 percent from the previous year. It is estimated that sales will reach some 26.23 billion yuan (W3.7 trillion, US$1=W1,009) by 2012.

SK is reportedly in talks with three or four Chinese game makers which are listed or are preparing to list on the Hong Kong stock market.

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