이 기사는 2021년 06월 10일 07:34 thebell 에 표출된 기사입니다.

South Korea’s media content platform company KTH and advertisement agency Nasmedia will merge as part of KT Corp chief executive officer Koo Hyun-mo’s restructuring plan.

KTH and Nasmedia have agreed to start the merger process as early as this month, industry sources said Tuesday.

KTH will be the surviving company after the merger. It is said that the merger ratio has been set more favorably for Nasmedia, considering the market capitalization and number of shares of the two companies. Based on the current share price, it is theoretically possible to receive two or more KTH shares for each Nasmedia share. However, the merger ratio may change if the stock prices of the two companies fluctuate significantly before the merger resolution is made.

KTH has recently decided to merge with KT Mhows to become KT Alpha. With the merge with Nasmedia, KTH is likely to be the key affiliate of KT Group, which leads the group’s digital commerce business.

The merged entity will be led by Nasmedia founder and CEO Chung Kee-ho. Industry insiders expect the combined entity will enjoy synergies as Nasmedia's main business, which is data-based consulting, and KTH's commerce business have many points in common. Nasmedia’s subsidiary PlayD started its commerce business last year.

Chung is set to become the key man of the KT Group’s new business. He currently owns a 16.77% stake in Nasmedia and is highly likely to be the second largest shareholder of the combined entity if the merger ratio is set favorably to Nasmedia.

Koo has been carrying out the restructuring works centered on eight businesses to maximize KT's value. The eight businesses include commerce, AI, cloud, media, finances, robot, health and real estates.

Nasmedia has denied speculations on the possible merger, saying it is not true. (Reporting by Sang-woo Sung)