Yulchon Advised Contents Alliance Platform on the Incorporation of OTT Entity, a Combination of Its 'POOQ' and SK Broadband's 'Oksusu'
2019.09.24.
Yulchon advised Contents Alliance Platform ("CAP"), which runs the "POOQ" OTT service, and is a joint venture of Korea's three terrestrial broadcasting companies, on the project in which CAP secured funds by issuing new shares to SK Telecom ("SKT") and acquired the "Oksusu" business from SK Broadband ("SKB") by way of business transfer.
Yulchon successfully provided comprehensive legal advice on this above project by reviewing the optimum transaction structure, conducting legal due diligence of SKB's Oksusu business, reviewing and preparing the related agreements and legal documents, negotiating with SKT and SKB, and reviewing legal issues in various fields, as well as obtaining approval from the Korea Fair Trade Commission.
This project gives CAP the opportunity to become a competitive combined OTT service provider with full capability to compete alongside global OTT service providers entering the Korean market.
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