SK Planet, XL Axiata set up joint venture in Indonesia

SK Planet, XL Axiata set up joint venture in Indonesia

Summary: SK Planet, a unit under SK Telecom, will be setting up a joint venture with the Indonesian mobile operator to offer mobile and online services such as e-commerce and navigation.

SHARE:

SK Planet and PT XL Axiata will be setting up a joint venture in Indonesia to offer mobile and online services as they look to capitalize on the country's fast-growing population of mobile and Web users.

In a report by Yonhap News Agency Tuesday, SK Planet, an affiliate unit under SK Telecom, has agreed to set up the joint venture with Indonesian mobile operator XL Axiata. Unnamed sources said both parties will each invest US$9.15 million in the new entity, it added.

While the joint venture has been agreed on, they are still deciding on the scope of the business, the sources said. However, it is expected to be offering navigation services, online shopping, and online auction, they added.

This is not the first time SK Planet has ventured into Indonesia. The report noted the company partnered Telkom Indonesia to provide music and video streaming via its joint venture PT MelOn Indonesia.

 

Topics: Tech Industry, E-Commerce, Korea

Kevin Kwang

About Kevin Kwang

A Singapore-based freelance IT writer, Kevin made the move from custom publishing focusing on travel and lifestyle to the ever-changing, jargon-filled world of IT and biz tech reporting, and considered this somewhat a leap of faith. Since then, he has covered a myriad of beats including security, mobile communications, and cloud computing.

Kick off your day with ZDNet's daily email newsletter. It's the freshest tech news and opinion, served hot. Get it.

Talkback

1 comment
Log in or register to join the discussion
  • XL Corruption

    Be careful investing in anything by XL Indonesia there is so much corruption in XL purchasing and the way things are decided in that company that I am surprised any investor regains their investment. XL is more like a Ponzi scheme.
    Dewi Thompson