Editorial Summary

SK Telecom announced on Thursday that it has acquired a 30 percent stake in Magic Tech Network, a Hong Kong unit owned by Shanghai-based online game company Magicgrids Networks, for $7.8 million. SK Telecom said it will actively participate in the development and publishing of online games and decisions made through the company's board. Magicgrids Networks was established in 2006.

According to a Sina report, SK Telecom plans to invest a total of $30 million in Magic Grids over a three-year period. Magic Grids' in-house developed online Q-style third-person shooter Patrix recorded over 150,000 peak concurrent users (PCU) on January 18.