[ Press release]Sandoll Enhances Customer Benefits and Aims to Advance the Font and Hangeul Cultural Industry through Acquisition of Yoon Design Group

3 Jun 2024
  • The merger honors the entrepreneurial spirit of the late Chairman Seok Geum-ho and aims to lead the development of the domestic font industry.
  • Promoting the growth of related cultural and artistic industries based on Hangeul.


 


June 3, 2024 (Monday)


Sandoll Inc. (CEO Young-ho Yun), a content creator platform company, announced on June 3 its acquisition of Yoon Design Group Inc.


Sandoll has signed an agreement to acquire 100% of Yoon Design's shares for 15.57 billion KRW, with the acquisition process expected to conclude on June 24.


Established in 1989, Yoon Design Group Inc. is a prominent font company in South Korea, having developed a variety of fonts for both general consumers and corporations, such as 'Yoon Gothic,' 'Yoon Myungjo,' and 'Ansungtangmyunche.' Additionally, the company has expanded its footprint as a font platform service provider through its font cloud service, font.co.kr.


Through this acquisition, Sandoll plans to leverage Yoon Design Group's exceptional font development capabilities and brand value, thereby providing customers with a diverse range of high-quality font content to enhance customer benefits. This strategic move is expected to improve customer satisfaction and bolster Sandoll's position as a market leader.


This acquisition aligns with the management philosophy of Sandoll’s founder, the late Chairman Seok Geum-ho, who believed that "Hangeul should be created, protected, and developed by Korean companies." Chairman Seok Geum-ho was driven to establish Sandoll, Korea’s first font company, in 1984 after being dismayed by the import of Hangeul fonts from Japan.


Sandoll intends to focus on scaling and advancing the domestic font industry in response to the influx of foreign companies. The company plans to actively strengthen the autonomy and competitiveness of the domestic font industry. This effort aims to equip the domestic font industry to compete globally and promote the beauty and uniqueness of Hangeul on the world stage.


Furthermore, Sandoll aims to expand its cultural and artistic ventures based on Hangeul, focusing on the development of related industries. The company will enhance the artistic value of Hangeul by advancing Hangeul font design and developing diverse cultural content. Since its inception, Sandoll has been committed to the development of Hangeul culture through initiatives such as "Integration of License Scope," "Font Safety School Campaign," and the "Saisiot Conference," under the corporate philosophy of "Marketing Korea with Hangeul."


Sandoll CEO Young-ho Yun remarked that amidst foreign companies' interest in Hangeul assets, "This acquisition is a crucial opportunity to continue and advance the Hangeul font industry under the entrepreneurial spirit of the late Chairman Seok Geum-ho." He added, "We will repay the support of our loyal customers with superior services, and this acquisition will serve as a pivotal moment for Sandoll and the domestic font industry to enhance its competitiveness in the global market and secure new growth drivers. We are committed to contributing to the comprehensive development of the Hangeul industry."