SK sells stake in security service arm to Wallenberg for 864.6 billion won

• Published date: 02 March 2023
• Publication title: The Korea Times

SK Square, the investment arm of SK Telecom, sold a portion of its stake and management rights in SK Shieldus, Korea's second-largest security service provider, to EQT Partners, a private equity fund (PEF) operated by Sweden's largest conglomerate, the Wallenberg Group, for 864.6 billion won, the Korean company said Wednesday.

Remaining as the second-largest shareholder with a 32-percent stake, SK Square seeks to grow SK Shieldus into a "global comprehensive security service firm" through joint management with the Swedish PEF, its top executive said.

"The acquisition of SK Shieldus' stake by EQT Infrastructure under EQT Partners, a Wallenberg Group investment company, was unanimously approved," SK Square Vice Chairman Park Jung-ho said during a press conference held at the Mobile World Congress 2023 in Barcelona, Spain, Tuesday (local time).

In 2018, SK Telecom...