SK Telecom raises $452m for e-commerce unicorn

The funds raised from a mix of government funds and private investors will help SK Telecom's online shopping site 11st better compete with bigger players Coupang and GMarket.

SK Telecom has raised W500 billion ($452 million) for its online shopping business, 11st, as part of its plan to spin off the business into a standalone entity, marking the second-biggest fundraising ever for an unlisted company in South Korea.

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