- SK Planet participates in the world’s first video translating platform company as a strategic investor, which translates videos
in 150 languages and has 10 million visitors a month

- Making an effort to lay the foundation of growth of new media through gaining global video platform know-how

- Market potential is growing with the increase of users worldwide.... Expanding its Southeast Asian market reach

 
SK Planet announced on 21 that it will enter the global video platform market by buying shares of the U.S. global video platform company VIKI (www.viki.com).
 
SK Planet and BBC Worldwide VIKI’s investment promotion as strategic investors with an amount of 20 million US$ (22 billion won),
alongside VIKI’s main shareholders, such as Greylock Partners and Andreessen Horowitz.
 
VIKI is the world’s first platform company that provides translation services on video contents in the form of subtitles in various languages. Users from all around the globe are translating contents in 150 languages, and since its official opening in 2009,
more than 10 million visitors have visited VIKI.  VIKI is receiving TV and movie programs from major broadcasting stations in the US,
Asia and Europe such as BBC, NBC Universal and FUJI TV, redistributing them via streaming service to users. VIKI also concluded
a contract with 3 major Korean broadcasting stations, which led to the translation of the popular Korean soap opera “Playful Kiss”
in 53 languages.
 
In January, VIKI was awarded the ‘Best International Prize’ in the Crunch Award 2010,” which is called the Oscar Awards of IT industry. Crunch Award is an international award which is given to promising venture businesses and founders by Tech Crunch, an internationally known IT magazine. In 2009, Facebook and Google were awarded,; In 2010, Apple and Twitter were jointly awarded with VIKI the ‘Best International Prize’.
 
SK Planet ensured 1 seat out of VIKI’s 5 board seats, as well as the appointment of Mr. Yong Gil Park, Head of SK Planet New Media BU, to Director of the board. Joich Ito, chief of MIT Media Lab, is another member of VIKI’s board member.
 
Yong Gil Park, Head of SK Planet New Media BU, said, “With this investment, SK Planet established the bridgehead to entering
the global new media market.
We will search and find diverse new business opportunities in cooperation with VIKI.”
 
Through this strategic investment, SK Planet is planning to implement cooperation with VIKI in diverse fields such as content providing and privatization and platform technology, such as advertisement. Especially, SK Planet and VIKI will jointly develop a global platform business based on content of the Korean Wave (‘Hallyu’), promoting SK Planet’s overseas expansion.