SK Broadband to invest $4bn in smart media platform

2017.03.08 16:43:36 | 2017.03.08 16:53:03
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South Korea’s SK Broadband Co. will incorporate wireless strengths of its parent company SK Telecom Co. to apply big data, artificial intelligence, and computing devices to pave the way in new media, its chief executive said.

It will capitalize on popularity of Korean entertainers and programs to turn its mobile media platform Oksusu in Asia, said Lee Hyung-hee Tuesday in a press conference held at its headquarters in central Seoul.

SK Broadband received a major setback to become a dominant leader after its plan to merge with CJ HelloVision Co. fell through. Having saved acquisition funds, the company instead will spend 5 trillion won ($4.35 billion) to advance its media platform over the next five years.

Oksusu is its mobile video streaming app with 11 million subscribers including 6.5 million paying members, Lee said. Oksusu targets 100 million users of mobile video contents across Asia.

SK Broadband also plans to incorporate big data and AI into Oksusu as well as its Internet Protocol TV (IPTV) “Btv” to provide users with customized services. The firm hopes to secure 27 million subscribers from both Oksusu and Btv - currently 15 million combined - and generate 4.5 trillion won in revenue - currently 3 trillion won - by 2021.

The firm plans to beef up its smart home business in collaboration with its affiliates such as using SK Telecom’s voice-powered AI assistant “Nugu” for Btv.

By Lim Sung-hyun

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]

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