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| Title | Daesung Group Designated as the Preferred Negotiator in the Bid to Acquire the Korea's Most Representative Domain, 'Korea.com' | 2005.10.06 |
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FROM: Daesung Group Designated as the Preferred Negotiator in the Bid to Acquire the Korea's Most Representative Domain, 'Korea.com' [Sept. 30, 2005 - Seoul, Korea] Daesung Global Network Co., Ltd. ?one of the affiliates of Daesung Group (CEO& Chairman, David Young-hoon Kim) announced on Sept. 29th that the company has been selected as the preferred negotiator in a bid to acquire www.korea.com, an Internet portal site known for its name, by its court receiver, Korea.Com Communications Co.,Ltd. Since Korea.com was acquired in 2000 by Thrunet Co., from its private owner in a widely publicized deal at a price amounting to 5 Million $. Because of its value of the name, Korea.com, the site was positioned as the symbolic portal site that represents Korea. However, Korea.com was in temporary financial difficulties and put under court receivership. On Sept. 5th, the lead manager for the sale, Samil Accounting Corp. officially announced the sale of the site through an auction. Daesung Group is expected to sign a Memorandum of Understanding for the acquisition of the site around Oct. 9th and go through necessary due diligence procedure. The final contract could be signed as early as late October. Daesung Group, widely known for its energy business, has selected cultural industry as its next-generation growth engine business; since 2002, under the group motto of "Warming Heart and Warming Homes". Daesung Group has aggressively pursued various initiatives in the cultural sector with investments in movies and dramas, publishing, event planning and games. Through this acquisition deal, Daesung Group is expected to establish itself firmly as a global cultural company to launch its overseas business in full scale and also promote synergy with its other existing businesses. Currently, Korea.com ranks seventh among community portal sites with 11 million subscribers offering various services including web mail and community services. |
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| NO | Title | Date |
|---|---|---|
| 17 | Daesung Group will be entering into... | 2005.10.07 |
| 16 | Daesung Group Designated as the Pre... | 2005.10.06 |
| 15 | [News] Chairman of Daesung Group Da... | 2005.09.08 |
| 14 | [News] Taegu City Gas Co., Ltd Repo... | 2005.08.09 |
| 13 | [WOW TV] [Meeting the CEO] Becoming... | 2005.07.27 |
