Goldman Sachs in talks to acquire controlling stake in South Korea's TMAP Mobility
Goldman Sachs is negotiating with SK Square to purchase a majority interest in TMAP Mobility, the operator of Korea's leading navigation service. SK Square, which currently holds 63.23% of TMAP Mobility, may retain a portion of its stake while collaborating on AI initiatives. The transaction is valued at roughly 700‑800 billion won (about $523‑$598 million) and could close by the end of the year.
Why it matters
If completed, Goldman Sachs would gain a controlling position in a data‑rich mobility platform, expanding its exposure to Korea's transportation and AI sectors. The investment of up to 800 billion won represents a significant capital outlay for the bank.
Key facts
- 1Goldman Sachs is in talks to acquire a 60‑70% stake in TMAP Mobility. koreajoongangdaily.com
- 2SK Square currently owns 63.23% of TMAP Mobility. koreajoongangdaily.com
- 3The deal is valued at 700‑800 billion won ($522.6‑$597.2 million). koreajoongangdaily.com
- 4Goldman Sachs is expected to invest roughly 800 billion won ($598.2 million) for a controlling stake. koreaherald.com
- 5TMAP Mobility was valued at 2.2 trillion won in a 2022 fundraising round. koreaherald.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.