SEEK Limited (SEEK), the Australian listed tech company which owns two online employment marketplaces JobStreet and JobsDB in Southeast Asia, has announced a USD 48 million investment in JobKorea, Korea’s online employment platform. SEEK will own a 10% stake, and Peter Bithos, CEO of SEEK Asia, will join JobKorea’s Board.
Commenting on the investment, Peter said, “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.”
“Through this investment, we look forward to helping JobKorea with our market-leading insights into big data, how to leverage AI, and our commercial and technical experience building the leading jobs and career marketplaces across APAC,” he added. “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.”
According to a statement, “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.”
Yoon Byung-joon, CEO of JobKorea, said “We are delighted to have a partnership with SEEK, a company with a wealth of experience in the global online employment market. We believe that this relationship will be an opportunity for JobKorea to make a quantum leap to the next level. 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.”
The remaining 90% of JobKorea is owned by Affinity Equity Partners (AEP), a global private equity player. AEP acquired 100% of JobKorea in May 2021.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.