SEOUL -- Hancom, a comprehensive technology group in South Korea, has acquired Urban Digital Marketing, a domestic digital marketing company, in an effort to focus on the business-to-consumer market. The group specializes in the sales of its office software and artificial intelligence-based solutions in the business-to-business and business-to-government markets.
Hancom said it has acquired a controlling 63 percent stake in Urban Digital Marketing (UDM) to become the marketing company's largest shareholder. "The acquisition of Urban Digital Marketing will become an important growth engine for the business-to-consumer (B2C) market for Hancom which had focused on the business-to-business (B2B) and business-to-government (B2G) markets," Hancom CEO Kim Yeon-soo said in a statement.
UDM established in 2011 is a digital marketing specialist that led some 400 digital branding projects and promotion projects and carried out branding projects for popular brands such as Skin Food, a domestic skincare product brand, and Anybody, an underwear brand.
Hancom started as a word processing software company in 1990. The company quickly expanded its business scope to artificial intelligence (AI) and autonomous driving. In February 2021, the tech group partnered with DJI, a Chinese drone maker, to nurture drone pilots. In March, Hancom acquired Awesome Tech, a domestic maker of special-purpose unmanned aerial vehicles.
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