RealTime IT News

China.com Takes 60 Percent Stake In Clic Inc.

China.com Corp. has acquired a 60 percent stake in Clic Inc., a Korean Web site builder that is better known as the designer of Korean golf star Se Ri Pak's home page, for US $1.35 million.

Clic Inc. announced October 28 that it has attracted the investment from China.com. China.com purchased a total of 14,400 shares of Clic at 110,000 won per share. Still, it won't be directly involved in the day-to-day operations of the Korean company.

Last June, China.com set up a Korean subsidiary of 24/7 Media, a U.S. Internet ad agency, in a joint venture with Daum Communications.

The company also is planning to make further investments in other Internet-related businesses in Korea, and it is expected to announce its business plan for Korea in mid-November.

So far, Clic, established in 1996, offers Web site design services for nearly 80 Korean corporations, including Samsung Electronics, SK Telecom, Hansol PCS and Munhwa Broadcasting Company (MBC).

"We successfully attracted investment from China.com. And, this means that China.com recognized our ability in web site design and our corporate value." said Kang Gee-Cheon, president of Clic.

"Now, we will be able to advance into overseas markets such as China and the United States by joining forces with China.com." he added.

With this investment which has made as part of its global network strategy, China.com has secured a foothold for advancement into Korean market. At the same time, it will be able to secure Clic's accumulated know-how in web design field, according to officials of Clic.