The ONE store labor union said on the 8th that it opposes a fire sale pushed forward without a transparent process.
The ONE store union issued a statement the same day, saying, "Reports continue that ONE store could be sold at a significantly low corporate value," and stated accordingly. According to the industry, SK Square is said to be pushing the sale of its subsidiary ONE store. The corporate value is estimated at about 70 billion won. Nexus, a KOSDAQ-listed company, is being mentioned as a potential acquirer.
The union said, "A decision to hand over Korea's leading app market at a bargain price is a serious matter that affects not only ONE store members but also developers, users, and the entire domestic app market ecosystem," adding, "The valuation of ONE store must reflect its status as an alternative app market, its cooperative structure with the three telecom companies, its developer and user base, trust in payments and settlements, the neutrality of app market operations, and the sustainability of its business going forward."
It added, "There must be a clear explanation of whether ONE store's value has been fully assessed, what the basis is for calculating the sale price, whether the sale process is being carried out fairly, and how business sustainability and neutrality as Korea's leading app market will be ensured."
The union said, "The ONE store labor union opposes any sale that does not guarantee a fair valuation, a transparent sale process, protection for members and employee-shareholders, the business continuity of ONE store, and the neutrality and trust befitting Korea's leading app market, and will take all necessary actions."