Integrated tech corporations YIDO Co., Ltd. is pushing a spin-off into three corporations.
YIDO said on the 1st that it will be partitioning into ▲ YIDO EcoOne ▲ YIDO TeraOne ▲ YIDO Estate.
The surviving corporation, YIDO EcoOne, will take charge of the core businesses based on the entire value chain before industrial waste treatment and the eco-friendly energy business of biogas. YIDO TeraOne will run artificial intelligence (AI) infrastructure businesses such as data centers, and YIDO Estate will engage in commercial and leisure real estate services.
YIDO TeraOne plans to appoint YIDO Executive Vice President (CSO) Jeong Jong-chan as CEO and push an investment expansion and IPO (initial public offering) roadmap.
This partitioning is a structural reorganization aimed at resolving the conglomerate discount that arose from a mix of diverse business groups. It also focuses on having the market assess each business's competitiveness and growth potential more clearly.
A YIDO official said, "As cash flow-based assets and growth assets are separated, we expect a 'value unlock' effect in which business-by-business value that was not fully reflected under the existing structure will be assessed more precisely."