SK Telecom Co.,Ltd (KOSE:A017670) acquired 20.8% stake in Konan Technology Inc. (KOSDAQ:A402030) from SK Communications Co., Ltd. for KRW 22.4 billion on October 27, 2022. Under the terms of transaction, SK Telecom acquired 1.2 million shares at price of KRW 18,950.Post completion, SK Telecom Co.,Ltd will become second largest shareholder in Konan & this move is part of SK Telecom's effort to diversify its business portfolio away from the traditional telecom sector, where growth has been slowing.

SK Telecom Co.,Ltd (KOSE:A017670) completed the acquisition of 20.8% stake in Konan Technology Inc. (KOSDAQ:A402030) from SK Communications Co., Ltd. on October 27, 2022.