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Megazone Cloud establishes 'Sejoong Cloud', a cloud joint venture with Sejoong.
This joint venture between Megazone Cloud and Sejoong is scheduled to be launched within this year. This will be Megazone Cloud's fourth joint venture.

It is expected that Megazone Cloud will hold 70% of the stake in 'Sejoong Cloud' and Sejung will hold 30%.

On the 31st of last month, Sejoong Cloud (tentative name), an affiliate company of Sejoong, announced that it would transfer 280,000 shares to Megazone Cloud. The total amount of the shares is 157.5 billion won.

After the transfer, they hold 30% of the shares. The company explains that the purpose of the transfer was to quickly respond to changes in the market environment, such as the expanding growth of the cloud business, and to secure investment resources.

Last June, Sejoong, a travel company, established a new company, Sejoong Cloud (tentative name), through a physical division of its software business to promote new business.
Megazone Cloud and Sejoong will cooperate to expand the MS Azure cloud market. Sejoong Information Technology, a subsidiary of Sejoong that was acquired last year, has been providing MS product licenses and solutions to corporate customers as a MS partner for the past 20 years.

Megazone Cloud is expanding the scope of their cloud technology support by establishing joint ventures with major companies. In addition to this, it is paving a way to expand its entry into the global market and ultimately establish a position for listing on the stock market in 2024.

Previously, Megazone Cloud established a joint venture 'Cloudgram' with LG CNS in 2019. Megazone Cloud had 65% of the stakes. Their goal with LG CNS was to share the results of domestic digital transformation with the public and financial sectors and jointly advance into the global market.

Last year, they also established the joint venture 'Definition' with Daekyo and the edutech business. Their plan was to expand into various business models by collaborating with edutech startups and Daekyo education brands. Daekyo held a 51% stake and Megazone Cloud held a 49% stake.

Earlier this year, they also completed a business combination report Japan for a joint venture established with Japan's ITOCHU Techno-Solutions(CTC). Megazone Cloud had a 51% stake. Megazone Cloud and ITOCHU Techno-Solutions set a goal of achieving 1 trillion won in sales by 2025 in response to the sophistication and diversification of hybrid cloud services that are increasing in demand in Japan.

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Megazone Cloud, which was spun off from its parent company Megazone in 2018, is Korea's No. 1 cloud management service provider (MSP) with 2,250 cloud expert employees. It provides cloud services through partnerships with major domestic and overseas cloud companies such as AWS, MS and over 100 software companies. It recently completed a series C investment worth 450 billion won.

<Table> Megazone Cloud Joint Ventures

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Reporter Hye-mi Kwon (