Eugene Group is pursuing 2 trillion won in new investment to develop its media business as a core growth engine for the group. The strategy aims to build a media platform combining content and data businesses to serve as a new growth driver for the group.
Eugene ENT, Eugene Group's intermediate media holding company, held a press conference on the 9th at the group's headquarters in Yeongdeungpo-gu, Seoul, where it announced the "Eugene Group Media Business Vision" containing these plans. Eugene Group plans to invest a total of 2 trillion won in its media business over the next 10 years, including 1.2 trillion won in the content sector and 800 billion won in new businesses and mergers and acquisitions (M&A).
First, the group will strengthen its content competitiveness by acquiring K-lifestyle media with competitiveness in the economic, industrial, cultural, and artistic sectors. "We will enhance content competitiveness by acquiring media that has secured established reporting capabilities and public trust," said Kang Hee-seok, CEO of Eugene ENT. "We will maintain the expertise of YTN, a news specialty channel, while strengthening the media capabilities of the entire group through new outlets." Eugene Group is currently the largest shareholder of YTN.
The group will also enter the data business to expand its revenue base. The plan is to secure a stable revenue base by providing data services that support corporate decision-making. To this end, options under consideration include collaborating with affiliate Eugene Investment & Securities to benchmark the media consulting model of British economic newspaper the Financial Times, and cooperating with U.S. media group Sinclair to strengthen the competitiveness of in-depth reporting content.
Through this investment, Eugene Group has set a target of achieving 500 billion won in media business revenue by 2030. "We will expand our business scope to global markets beyond our existing business portfolio centered on ready-mixed concrete, building materials distribution, and financial services," Kang said. "We will establish media as Eugene Group's fourth core business portfolio."
