-  Opens qiip, an Android application store tailored to Japanese customers, on November 29 in Japan
-  Localizes content payment options, marketing system and more
-  Aims to foster application ecosystem in Japan, support Korean developers’ entry into Japanese market and promote
   exchanges between Korea and Japan

Seoul, Korea, November 28, 2011 ― SK Planet today announced its plans to launch qiip, an Android application store in Japan on
November 29.

The name “qiip” is a homophone with the English word “keep” to convey the idea of keeping or storing diverse contents in smart
devices, and SK Planet aims to develop it into the global brand of its T Store.

The launch of qiip, an independent app store optimized for the Japanese market, will mark SK Planet’s full-fledged entrance into the
Japanese content platform market as it will be operating the business on its own.

The current number of Japanese mobile phone users stands at 117 million, of which only around 10% or 13 million are users of
smartphones. As two major wireless carriers in Japan, NTT docomo and KDDI have been expanding their lineup of Android phones
since 2011, Android now takes up over 50% of total smartphone OS.  

Moreover, SK Planet sees great potential in smartphone content market as Japanese feature phone users have been remarkably
active content purchasers, creating a content market worth approximately JPY 650 billion (USD 8.2 billion).

A further increase in smartphone penetration in Japan will lead to quantitative growth of application market, and when this takes place,
SK Planet expects that qiip will mainly attract male workers in their 20s and 30s, who represent the largest group of Android smartphone
users, as well as female customers interested in Korean pop culture contents.

Customers interested in using qiip can visit its mobile website (http://m.qiip.jp) to download the application and simply enter ID,
password and e-mail address to create a qiip account.  

The application store plans to keep abreast with Japanese market trends to offer relevant applications, and localize payment options
as well as marketing system. Moreover, SK Planet is set to develop qiip into an optimized independent application store by leveraging
its proven know-how and quality management system acquired through T Store.

Its initial offerings totaling 2000+ will include some 500 localized applications such as games published by mobile gaming giants,
namely EA and Gameloft, as well as K-pop content. Users will also have access to some 1500 killer applications proven in Korea
and global markets in both Japanese and English. 

Customers will enjoy diverse localized payment options to choose from, which include charging application purchases to mobile
phone bills, using credit card and web money. The company will also launch a give-away promotion that offers ten paid applications
for those who create a qiip account until the end of the year.

SK Planet plans to take advantage of local distribution channel such as authorized wireless retailers and resellers to encourage
downloading of qiip at the point of sale, and will continue to form diverse partnerships to secure a solid customer base.

Prior to the launch of qiip, SK Planet actively joined hands with Japanese companies to facilitate its entrance into the Japanese
market. The company concluded a strategic partnership in August 2011 with NHN Han Game, Japan’s largest online game portal
supplying hugely popular mobile games, and Gree, Japan’s major SNS service provider that boasts some 24 million registered
users.

Based on the belief that the key success factor for T Store lies in a rich mobile ecosystem, SK Planet will focus on building a
developer-friendly environment in Japan by teaming up with small-and mid-sized developers, organizing content developer
contests, and hosting developer conferences.

In addition, the company also plans to aid Korean developers’ entry into the Japanese market with translation as well as
application verification services. It also deployed an integrated settlement system for both T Store and qiip, allowing Korean
and Japanese publishers to freely sell applications in any of the two stores and enjoy convenient one-stop settlement service.
Through these services, SK Planet hopes to facilitate content exchanges between developers and build a cross-boarder
mobile ecosystem. 

“The release of the customized application store in Japan was possible thanks to know-how accumulated through T Store,
which grew into Asia’s biggest application store, along with our localization strategy,” said So Jin-woo, SK Planet’s President
and CEO. “We hope T Store will expand its global reach and serve as a global content distribution hub in the near future.”