- To enhance management expertise and efficiency, SNet Systems will spin off the set-top box division, and found an independent corporation
- Planning to reinforce expertise and concentrate energies on network integration and related areas
[December 26, 2007, Seoul]On December 17 SNet Systems (www.snetSystemss.co.kr CEO Park Hyo-Dae), a domestic comprehensive IT firm, announced that it would spin off the set-top box division and found ‘S Net Media’ Corporation to increase management expertise and efficiency.
In a bid to expand its business area S Net Systems began to develop home media in 2004, and in particular, exported set-top boxes to European and Asian countries including Germany and India. Accordingly, SNet Systems is planning to spin off the set-top box division from the existing business divisions, and transform it into a set-top box specialist.
Partially opened to the public back in 2005 in commemoration of the 60th anniversary of the Independence Day, the National Palace Museum of Korea of the Cultural Heritage Administration enlarged the exhibition space to a great extent on the occasion of this full-scale opening, e.g. from 5 exhibition halls on 1 floor (2nd floor) to 12 exhibition halls on 3 floors, and the relics on display greatly increased from 500 to 900.
‘S Net Media’ was launched in an effort to reinforce the competitiveness with expertise and concentration, secure R&D resources, manage risks by making a separate management systems and streamline the business.
“At a time when the market is changing rapidly, SNet is now able to make quick decisions and secure expertise so as to further reinforce the competitiveness of the set-top box business,” said Mr. Park Hyo-Dae, CEO of SNet Systems. “On this basis, within 2 to 3 years, we will turn ‘SNet Media’ into a more professional and stable set-top box maker, and at the same time reinforce SNet Systems’ own business of UC and an extension of the network integration area – security and service and concentrate its energy on those businesses.”
S Net Systems founded a corporation in Germany last April, and entered into an agreement for the supply of set-top boxes worth KRW10 billion with IMCL, India’s largest cable TV broadcaster in May.[S Net Systemas]
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About S Net Systems Inc.
S Net Systems Inc., founded in 1999, is a leading IT company in Korea and a true leader in the ubiquitous era with broad business area including NI , storage, STB, security, and RFID/USN. In 2007, S Net Systems Inc. is driving and bringing up new solution business including STB, as a company’s growth power, in order to create business opportunities in the environmental changes of NI-related technologies such as ubiquitous(RFID/USN), security, converging wire and wireless network, IPv6, Storage. Especially S Net Systems Inc. is actively making inroads into foreign market with STB products. ‘S’of the company name means ‘Survival, Success, Satisfaction’.
The more Information about S Net Systems Inc. can be found at
http://www.snetsystems.com. For ongoing news, please visit
http://www.snetsystems.com/pr_center/snetnews.asp.
Press Contact Information
Jung-hee Kim I PR Manager of SNet I 82-2-3469-2910 I kjh@snetsystems.co.kr
