SEEK invests in JobKorea to boost career platform offerings
By Digital News Asia August 23, 2021
- Announces US$48 mil investment in JobKorea
- SEEK will own a 10% stake in JobKorea
SEEK Limited (SEEK), an Australian listed tech company which owns two of Southeast Asia’s leading online employment marketplaces, JobStreet and JobsDB, announced a US$48 million (RM203 million) investment in JobKorea, Korea's largest online employment platform.
[RM1 = US$0.237]
As a result, SEEK will own a 10% stake in JobKorea, with Peter Bithos (pic, left above), chief executive officer (CEO) of SEEK Asia, joining JobKorea's Board, the company said in a statement.
"This partnership is a big win not only for SEEK and JobKorea, but more importantly for all jobseekers and employers in Asia.
“With JobKorea, the leading job marketplace in Korea, we can now touch the lives of an additional 25 million jobseekers and 5 million employers in one of the largest economies in the world," said Bithos
Bithos said through this investment, SEEK looks forward to helping JobKorea with its market-leading insights into big data, expertise in artificial intelligence (AI), and commercial and technical experience used to build the leading jobs and career marketplaces across Asia Pacific region.
"We also look forward to learning from JobKorea as it continues to build on its leadership in one of Asia's most dynamic, sophisticated markets," he said.
At the same time, SEEK is focused on its operations, fast-tracking its ongoing transformation and growth of its existing Asia businesses, Bithos said.
For JobKorea, this partnership will provide an opportunity to leverage SEEK's experienced management team and their significant expertise in operating global online employment and human capital management platforms, the company said.
"We are delighted to have a partnership with SEEK, a company with a wealth of experience in the global online employment market,” said Yoon Byung-joon (pic, right above), CEO of JobKorea.
“With competition becoming ever fiercer to hire talented people such as good managers, developers or tech specialists, JobKorea will move toward a global HR platform that connects the Korean employment marketplace internationally," he said.
The remaining 90% of JobKorea is owned by Affinity Equity Partners (AEP), a leading global private equity player and the largest in Korea.
AEP acquired 100% of JobKorea in May 2021.
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