KG Eduone, a subsidiary of KG Mobilians, Korea’s largest mobile payment service firm, is prepping to go public on the Kosdaq market by 2020. KB Securities was selected as its IPO manager, its parent company said on Wednesday.
KG Eduone has provided various education and training resources for public servant appliers, certificate test takers and company employees. In 2013, it was acquired by KG Group and integrated into KG Mobilians as a subsidiary after additional stake purchasing.
The company was renamed from KG Passone to KG Eduone after a business combination with its subsidiary KG IT Bank late last year. KG IT Bank had focused on computer coding, security, database and other IT-related education services.
KG Eduone posted 1.9 billion won ($1.66 million) in operating profit over sales of 46.7 billion won last year with a net profit of 900 million won. The company’s first half-year sales for 2018 came to 32 billion won with an operating profit of 2 billion won and a net profit of 1.4 billion won.
KG Mobilians has a 70 percent interest in KG Mobilians. KG Mobilians is a subsidiary of KG Inicis, Korea’s largest electronic payment service company.
By Cho Hee-young and Minu Kim
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]