One Store equity structure. (Data = One Store)
KT and LG Uplus invested in one store, a subsidiary of SK Telecom, a major reason for the formation of consensus among the three telecom companies to grow the native app market together. In addition to the app market, major ICT service sectors such as mobile operating system (OS) and online video service (OTT) are leading the domestic market by overseas operators such as Google and Netflix. Among these, KT and LG U+ are services of competitors, but they agree with the purpose of strengthening the domestic ICT ecosystem.
On the 3rd, KT and LG Uplus invested 21 billion won (with 3.1% stake) and 5 billion won (0.7% stake) in One Store, respectively. Accordingly, the stake structure of One Store was reorganized into three telecom companies (53.9%), Naver (26.3%), and financial investors (18.6%). The existing equity structure was SKT (52.1%), Naver (27.4%), and financial investors (19.4%).
The three telecom companies operated T Store (SKT), Olleh Market (KT), and U+ Store (LG Uplus), respectively, before the One Store was launched. Naver also launched its own app store. The four companies integrated their respective app stores into one store in 2016. KT and LG Uplus did not have a stake in One Store, but business cooperation continued. Membership discounts are typical. When mobile users of the three telecommunication companies pay at One Store for a fee, 10% of the amount can be paid with the membership points of the telecommunication company that they subscribed to. One store app was also pre-loaded on the smartphones of the three telecommunications companies.
KT and LG Uplus continued to invest in equity in order to actively participate in the growth of the native app market after continuing such business cooperation. A KT official said, “We agreed that Korean companies will grow the native app market together.” . LG Uplus also agreed with the intention of fostering the domestic ICT ecosystem by cooperating more closely with the three telecom companies going beyond business cooperation and establishing equity relationships.
OneStore expects to receive momentum from IPOs by attracting investment from all three telecom companies. One Store is making efforts to prepare for this year’s IPO by selecting KB Securities, NH Investment & Securities, and SK Securities as IPO organizers in September of last year.
Lee Jae-hwan, CEO of One Store, said, “As the two telecommunications companies, which have been together as co-operators for the past five years, participate as shareholders, a higher level of cooperation is expected.” I will be born again.”
Meanwhile, according to the mobile index compiled by IG Works, a data platform company, as of August last year, Google Play had the highest market share at 71.2%, followed by One Store (18.3%) and Apple App Store (10.5%). Was.