[SK's AI chip startup Sapeon signs a merger agreement with Rebellions]
Sapeon Korea, the AI chip division of SK Telecom, has signed a merger agreement with rival semiconductor startup Rebellions. The two companies stated in a joint announcement that the deal is expected to create a merged business with an enterprise value exceeding 1 trillion Korean won (equivalent to US$740 million). Sunghyun Park, co-founder and CEO of Rebellions, will lead the management of the merged company, while SK Telecom will support its expansion as a strategic investor. The two companies had indicated in June that they planned to merge.