ots Ad hoc-Service: fluxx.com AG <DE0005763502> fluxx.com enters cooperation with Korean media enterprise
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fluxx.com enters cooperation with Korean media enterprise
fluxx.com AG (Reuters Code FXXG.F) of Kiel, has signed a letter of intent with the media enterprise YBM, Seoul, for the founding of a joint venture. Aim of the cooperation is the setting up, running and marketing of lotteries and betting through online-media in South Korea.
The cooperation with YBM, which with 4'000 employees and offerings on the internet, magazines and TV is one of South Korea's most influential media enterprises, is a significant step in fluxx.com's internationalisation strategy. Through the planned joint venture fluxx.com on the one hand gains access to the lucrative South Korean market and on the other hand the possibility to build up a presence in the strategically important Asian economic space.
The market for lotteries and horse-betting in South Korea is estimated at about US$ 2 billion p.a. The online potential stems from the 46 million inhabitants, of whom ca. 30% own a mobile phone, 15% have access to the internet and ca. 7% own internet-capable mobile phones (WAP).
Contact:
fluxx.com AG, Investor Relations, Stefan Zenker, Phone: +49 (431)
88 10 4-84; Mobile: +49 173 913 87 05; Mail: zenker@fluxx.com
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